Mumbai, Feb 21: N Chandrasekaran on Tuesday took over as the Chairman of Tata Sons while asserting that Tatas will work together to lead and not to follow. He also promised to deliver “industry leading” performance in all its businesses.
“We will work together to deliver business performance which is industry leading in all our businesses, and lead …And not follow,” Chandrasekaran told reporters outside the iconic headquarters of the USD 103-billion salt-to-software conglomerate — Bombay House.
“It is an honour and a privilege for me to assume this responsibility,” he was quoted as saying by PTI. “I look forward to the opportunity to serve the group in this new role for the years to come and seek support from everyone so that we can collectively make it happen,” he further added.
Speaking to the media outside Bombay House here on Tuesday, Chandrasekaran said,“The group is in the hearts and minds of people in India and globally. We will work together to drive discipline on capital allocation and shareholder returns. This company has always shown tremendous spirit in terms of pioneering and leadership. I look forward to the appointment and seek your support.”
Earlier in February, Chandrasekaran was appointed to take over as the Chairman of Tata Power, while holding the post of Chairman of Tata Steel Ltd. and Tata Motors Ltd. He was also the CEO and Managing Director of Tata Consultancy Services (TCS), a leading global IT solutions and consulting firm.
The 54-year-old became the first non-Parsi chairman of the 150-year old Tata Group. A man known for making India’s largest software exporter TCS what it is today, Chandrasekaran has his task cut out as the new Chairman of Tata Sons — the promoter firm of many of the operating Tata group firms.
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N Chandrasekaran was born into a middle-class family in Tamil Nadu along with 5 siblings. His father, a lawyer by educations also practised farming. He completed his bachelor’s education from Coimbatore Institute of Technology in Coimbatore, Tamil Nadu. In the year 1986, he completed his masters in Computer application from Regional Engineering College in Trichy, Tamil Nadu. After completing his masters, Chandrasekaran, joined Tata Consultancy Services in 1987. Rising through the ranks, Chandrasekaran became the CEO of TCS on October 6, 2009. He had also earlier served as COO and Executive Director of TCS.
In a dramatic development that took place last October, Cyrus Mistry was sacked as Chairman of Tata Sons and was replaced by Ratan Tata, from whom he had taken over the reins of the over USD 100 billion salt-to-software conglomerate four years ago. The surprise announcement came after the Board of Tata Sons met here and decided to replace 48-year-old Mistry and appoint Ratan Tata, 78, as interim head.