After Tata conglomerate named veteran insider Natarajan Chandrasekaran, widely known as Chandra, as the new chairman of its holding company, Tata Sons, group patriarch Ratan Tata applauded the appointment as well-deserved recognition of proven leadership capabilities.
Mr Tata said, "The job is complex but I am sure he will take the group to new heights while protecting the group's values and ethics at all times."
Mr Chandrasekaran, 53, currently chief executive of IT outsourcing giant Tata Consultancy Services (TCS), India's most-valuable company with a market capitalisation of $67 billion, will take over as Tata Sons executive chairman on February 21, according to a company statement.
India Inc welcomed the appointment of N Chandrasekaran, hoping he would restore the conditions befitting the values and ethos of the salt-to-steel conglomerate.
Tata Sons is embroiled in a legal battle with former chairman Cyrus Mistry, who was forced out in October.
Mr Chandrasekaran was the CEO and MD of TCS, the group's crown jewel, since 2009. A Tata lifer, he had joined the company in 1987. He was appointed as a Director on the board of Tata Sons on October 25, 2016, just a day after Mr Mistry's removal as Chairman. He will be the first non-Parsi chairman of the 150-year old Tata Group.
Mr Chandrasekaran said that he was "humbled and honoured" to be chosen to lead Tata Sons.
"At the Tata Group, we are at an inflection point. I am aware that this role comes with huge responsibilities," he said in a statement.
(With agency inputs)
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