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N Chandrasekaran takes over as Tata Sons chairman, investors cheer

Chandra is the first non-Parsi to become chairman of Tata Son's -- India's most diversified group. Photograph: (Zee News Network)

ANI New Delhi, Delhi, India Feb 21, 2017, 05.56 AM (IST)

N Chandrasekaran, or Chandra as he is fondly known, took over as the chairman of Tata Sons on Tuesday.

He will be the first non-Parsi to become chairman of Tata Sons -- India's most diversified business group.

He replaces ex-Chairman Cyrus Mistry, who was unceremoniously driven out of the company on October 24, 2016, and Ratan Tata who had been interim chairman after Mistry.

Chandra, before entering Bombay House, said he "will do everything we need to do, to delight (the) people who are proud of the group". 

Chandra, a former Tata Consultancy Services CEO and MD, has taken the corner office at Bombay House, with investors cheering the move.

The stocks of listed Tata Group companies were in the green, rising between 36 bps and 2% from their previous close.

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Speaking to reporters on Tuesday, Natarajan said he would do his best to keep enhancing the company's goodwill.

"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. The company has always shown tremendous spirits in terms of pioneering and leadership," he said.

On Monday, Chandra was also appointed the non-executive chairman of TCS effective February 21.

Chandrasekaran joined TCS in 1987 after completing his education in computer applications from Royal Engineering College, Trichy in India's southern state of Tamil Nadu.

(WION)

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