Tata Sons&#39; board has named Tata Consultancy Services head N Chandrasekaran as the chairman of Tata Sons

Rajesh Gopinath will become the chairman of Tata Consultancy Services (TCS), the position that was so far occupied by Chandrasekaran.

The $100-billion conglomerate Tata Sons, the holding company of the listed Tata group companies in a business empire ranging from Jaguar Land Rover and steel mills to aviation and salt, had ousted its chairman Cyrus Mistry in October.

&quot;I will reach out to everyone. Chairmanship of Tata Sons is a huge responsibility,&quot; the incoming chairman said.

Ratan&nbsp;Tata, patriarch of one of India&#39;s most influential families, had taken over as interim chairman of&nbsp;Tata&nbsp;Sons after the board ousted Mistry.

TCS head N&nbsp;Chandrasekaran has been widely rumoured to be one of the leading contenders to replace Mistry.&nbsp;In October, Tata Sons&#39; board had set up a five-member selection committee that included Ratan Tata to choose a new chairman within the next four months.

A masters degree holder in computer applications, Chandrasekaran joined the group in 1987, and rose through the ranks to become TCS CEO in 2009.

He was named to the&nbsp;Tata&nbsp;Sons board in October, after Mistry&#39;s ouster. Chandrasekaran also serves on the board of Reserve Bank of India.

A short bio on the central bank&#39;s website describes him as an avid photographer, music aficionado and a passionate long-distance runner who has completed marathons across the world.

TCS is India&#39;s largest software services exporter and registered a 10.9 per cent rise in profit for the quarter to December. TCS is the most lucrative wing of Tata Sons.

Mistry&#39;s removal from the Tata board ignited a bitter public spat in recent weeks.

Mistry laid out three sets of allegations: breaches of governance within the Tata&nbsp;group; misconduct at&nbsp;Tata&nbsp;ventures; and the illegality of his ouster.

Tata&nbsp;Sons&nbsp;denies Mistry&#39;s allegations and says it has followed the highest standards of corporate governance.

(WION with inputs from Reuters)

Rajesh Gopinathan will take over as Tata Consultancy Services chairman -- the position vacated by Chandrasekaran

Tata Sons' board has named Tata Consultancy Services head N Chandrasekaran as the chairman of Tata Sons Rajesh Gopinath will become the chairman of Tata Consultancy Services (TCS), the position that was so far occupied by Chandrasekaran. The $100-billion conglomerate Tata Sons, the holding company of the listed Tata group companies in a business empire ranging from Jaguar Land Rover and steel mills to aviation and salt, had ousted its chairman Cyrus Mistry in October. "I will reach out to everyone. Chairmanship of Tata Sons is a huge responsibility," the incoming chairman said. Ratan Tata, patriarch of one of India's most influential families, had taken over as interim chairman of Tata Sons after the board ousted Mistry. TCS head N Chandrasekaran has been widely rumoured to be one of the leading contenders to replace Mistry. In October, Tata Sons' board had set up a five-member selection committee that included Ratan Tata to choose a new chairman within the next four months. A masters degree holder in computer applications, Chandrasekaran joined the group in 1987, and rose through the ranks to become TCS CEO in 2009. He was named to the Tata Sons board in October, after Mistry's ouster. Chandrasekaran also serves on the board of Reserve Bank of India. A short bio on the central bank's website describes him as an avid photographer, music aficionado and a passionate long-distance runner who has completed marathons across the world. TCS is India's largest software services exporter and registered a 10.9 per cent rise in profit for the quarter to December. TCS is the most lucrative wing of Tata Sons. Mistry's removal from the Tata board ignited a bitter public spat in recent weeks. Mistry laid out three sets of allegations: breaches of governance within the Tata group; misconduct at Tata ventures; and the illegality of his ouster. Tata Sons denies Mistry's allegations and says it has followed the highest standards of corporate governance. (WION with inputs from Reuters)

N Chandrasekaran named Tata Sons chairman

Refuting allegations that he misled the selection committee set up in 2011 to find new Tata Sons Chairman, Cyrus Mistry today hit out at Ratan Tata saying his predecessor&#39;s &quot;conduct has eroded the Tata brand and values materially&quot;.

On a series of allegations leveled against him by Tata Sons in a letter to stakeholders of Tata firms, Mistry said, &quot;Repeat a lie a thousand times and hope it becomes a truth, seems to be Mr Ratan Tata&#39;s last-ditch effort to overcome a monumental disaster his actions have unleashed&quot;.

Earlier, Tata Sons today accused Mistry of misleading the selection panel to get selected as Chairman, retracting on his promises, concentrating powers and using free-hand given to him to weaken management structures.

The press statement from Tata Sons under Ratan Tata contains a &quot;regurgitation of fake innuendo that Mr Tata has resorted to through unnamed and named spokesmen in recent weeks&quot;, Mistry&#39;s office said in a statement.

Denying the above allegations, the statement said, &quot;On the contrary if Tata Sons had any point at all to make, it would have complied with law to form a Committee now to logically present charges against Mr Mistry. Armed with nothing better than the limp nature of contents of today&#39;s statement, it was obviously not an option for Mr Tata.&quot;

Lashing out at the interim Chairman of Tata Sons, it said: &quot;Mr Ratan Tata&#39;s conduct has eroded the Tata Brand and values materially...Far from hurting the Tata Sons businesses intentionally, Mr Mistry is saving the Tata Group from the whimsical ineptitude of Mr Ratan Tata.&quot;

The statement further said that the Tata Trusts have done great work in the past. &quot;However some of the recent actions by Mr Ratan Tata and his coterie that now runs the Trusts have raised great concern on the ethics that surround decision-making.&quot;

On the allegations of misleading the selection committee, Mistry&#39;s office said: &quot;Unsurprisingly, Mr Ratan Tata&#39;s close personal friend Lord Kumar Bhattacharya, the constant feature of the Selection Committee, then and now, just six months ago spoke positively of Mr Mistry&#39;s performance.&quot;

On charges that Mistry gradually concentrated all power and authority and took advantage of free hand given to him, the statement said: &quot;The structure of the Tata Sons Chairman being the Chairman of key Tata Group operating companies is something that preceded Mr Ratan Tata&#39;s time, and an approach he encouraged and perpetuated.

&quot;To say that Mr Mistry concentrated power in his hands across companies is meaningless since Mr Mistry expanded the oversight over his work by focusing on better board effectiveness and getting his work overseen by over 50 independent directors.&quot;

The allegation of concentration of power is &quot;new-found wisdom being written after seven weeks of failure to come up with any reason for upstaging Mr Mistry&quot;, it added.

(PTI) 
&nbsp;

Tata Sons earlier claimed Cyrus Mistry misled selection committee to get himself elected chairman

Refuting allegations that he misled the selection committee set up in 2011 to find new Tata Sons Chairman, Cyrus Mistry today hit out at Ratan Tata saying his predecessor's "conduct has eroded the Tata brand and values materially". On a series of allegations leveled against him by Tata Sons in a letter to stakeholders of Tata firms, Mistry said, "Repeat a lie a thousand times and hope it becomes a truth, seems to be Mr Ratan Tata's last-ditch effort to overcome a monumental disaster his actions have unleashed". Earlier, Tata Sons today accused Mistry of misleading the selection panel to get selected as Chairman, retracting on his promises, concentrating powers and using free-hand given to him to weaken management structures. The press statement from Tata Sons under Ratan Tata contains a "regurgitation of fake innuendo that Mr Tata has resorted to through unnamed and named spokesmen in recent weeks", Mistry's office said in a statement. Denying the above allegations, the statement said, "On the contrary if Tata Sons had any point at all to make, it would have complied with law to form a Committee now to logically present charges against Mr Mistry. Armed with nothing better than the limp nature of contents of today's statement, it was obviously not an option for Mr Tata." Lashing out at the interim Chairman of Tata Sons, it said: "Mr Ratan Tata's conduct has eroded the Tata Brand and values materially...Far from hurting the Tata Sons businesses intentionally, Mr Mistry is saving the Tata Group from the whimsical ineptitude of Mr Ratan Tata." The statement further said that the Tata Trusts have done great work in the past. "However some of the recent actions by Mr Ratan Tata and his coterie that now runs the Trusts have raised great concern on the ethics that surround decision-making." On the allegations of misleading the selection committee, Mistry's office said: "Unsurprisingly, Mr Ratan Tata's close personal friend Lord Kumar Bhattacharya, the constant feature of the Selection Committee, then and now, just six months ago spoke positively of Mr Mistry's performance." On charges that Mistry gradually concentrated all power and authority and took advantage of free hand given to him, the statement said: "The structure of the Tata Sons Chairman being the Chairman of key Tata Group operating companies is something that preceded Mr Ratan Tata's time, and an approach he encouraged and perpetuated. "To say that Mr Mistry concentrated power in his hands across companies is meaningless since Mr Mistry expanded the oversight over his work by focusing on better board effectiveness and getting his work overseen by over 50 independent directors." The allegation of concentration of power is "new-found wisdom being written after seven weeks of failure to come up with any reason for upstaging Mr Mistry", it added. (PTI)

Cyrus Mistry, Tata Sons spar over concentration of power in hands of chairman

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N Chandrasekaran named Tata Sons chairman

Cyrus Mistry, Tata Sons spar over concentration of power in hands of chairman