The committee formed to select the next Tata Sons Ltd. chairman has begun meeting prospective candidates, said a person familiar with the development. The board of Tata Sons on October 24, 2016 removed Cyrus Mistry as the chairman, brought in Ratan Tata as the interim chairman, and appointed a 5-member committee to select the next chairman within four months.
The selection committee comprises of:
- Ratan Tata
- Ronen Sen
- Amit Chandra
- Lord Kumar Bhattacharyya
- Venu Srinivasan
In a recent letter to employees Ratan Tata underscored the urgency in appointing a new chairman so that the uncertainty surrounding the Tata Group's leadership is minimised.
I am looking forward with equal excitement to the finalisation by the selection committee of a world class leader to be the new chairman of the group.Ratan Tata, Interim Chairman, Tata Sons
The absence of a chairman at Tata Sons, Tata playing interim chairman and Cyrus Mistry's continuance as chairman of several of the group's blue-chip, listed companies has created a unique management situation in the group, as all important material decisions with respect to group companies are usually cleared by the board of Tata Sons.
While Ratan Tata has put in place an interim management team to run the day-to-day operations, formulating the group's future strategy and formation of the group governing council will be the prerogative of the new chairman, said a Tata Sons spokesperson in response to a BloombergQuint query.
Also Read: Tata Sons Unveils A New Leadership Team Full Of Old-Timers
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