Ratan Tata-led panel begins search for Cyrus Mistry’s successor. Here’s what they are looking for in the next Chairman
Advertisement
A five-member panel, including Ratan Tata , now has one of the toughest jobs in hand-finding a successor to ousted Chairman Cyrus Mistry .
As the tussle betweenTata Sons and Mistry continues, one of the priorities for the group is to find the next Chairman. Currently, Ratan Tata is the interim Chairman but just for four months.
As per reports, Tata Sons is looking for a dynamic leader, who can run $100 billion global corporation. The person should have extensive experience in software, steel, telecoms and automotive, knowledge of tea and hotels a plus, along with good internal communication skills.
Bloomberg reported Tata has given himself and the other members of the panel four months to find someone to steady the Tata supertanker and focus managers, investors, customers and staff back on myriad businesses the company hews.
Meanwhile, four names have already surfaced for the top spot-Pepsi Co’sIndra Nooyi , former Vodafone Group chief Arun Sarin, Tata Consultancy Services Ltd’s N. Chandrasekaran and Jaguar Land Rover head Ralf Speth.
Noel Tata is also being considered for the spot.
"You need somebody with great political skills to manoeuvre between the group, between the government, between the institutions, between the stakeholders,” Mohan Guruswamy, a former Indian finance ministry official and chairman at the Centre for Policy Alternatives in New Delhi, told Bloomberg, adding "I don't think you can go outside, you need knowledge of the group.”
It is noteworthy that Chandrasekaran and Speth were appointed to the Tata Sons board.
The Mumbai-based Tata Sons Ltd. controls and invests in the group's major companies and oversees 29 publicly listed companies worth a combined $116 billion in March.
Tata Sons employs 660,000 people who make cars, blend tea, forge steel, sell insurance, write software, operate phone networks and package salt among much else.
Tata Group and companies.
Tata Sons has maintained Mistry, who served as the chairman for almost four years, was removed for non-performance.
It is a big issue for Tata which in the past was normally known for really good corporate governance and it looks more like a personal issue between Ratan Tata and Cyrus Mistry. It may have an impact on the hotels business and Tata Steel but notTata Motors or Tata Consultancy Group,” Juergen Maier, a Vienna-based fund manager , who oversees about $1 billion in assets including Tata Motors and Tata Consultancy shares, told Bloomberg.
Advertisement
As the tussle between
As per reports, Tata Sons is looking for a dynamic leader, who can run $100 billion global corporation. The person should have extensive experience in software, steel, telecoms and automotive, knowledge of tea and hotels a plus, along with good internal communication skills.
Bloomberg reported Tata has given himself and the other members of the panel four months to find someone to steady the Tata supertanker and focus managers, investors, customers and staff back on myriad businesses the company hews.
Meanwhile, four names have already surfaced for the top spot-Pepsi Co’s
Advertisement
"You need somebody with great political skills to manoeuvre between the group, between the government, between the institutions, between the stakeholders,” Mohan Guruswamy, a former Indian finance ministry official and chairman at the Centre for Policy Alternatives in New Delhi, told Bloomberg, adding "I don't think you can go outside, you need knowledge of the group.”
It is noteworthy that Chandrasekaran and Speth were appointed to the Tata Sons board.
The Mumbai-based Tata Sons Ltd. controls and invests in the group's major companies and oversees 29 publicly listed companies worth a combined $116 billion in March.
Tata Sons employs 660,000 people who make cars, blend tea, forge steel, sell insurance, write software, operate phone networks and package salt among much else.
Advertisement
The battle between Tata Sons and Mistry is getting murkier by the day. In an e-mail, Mistry had warned of $18 billion in writedowns, a claim that was dejected by Tata Sons has maintained Mistry, who served as the chairman for almost four years, was removed for non-performance.
It is a big issue for Tata which in the past was normally known for really good corporate governance and it looks more like a personal issue between Ratan Tata and Cyrus Mistry. It may have an impact on the hotels business and Tata Steel but not
Advertisement
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- 2 states where home prices are falling because there are too many houses and not enough buyers
- 6 Coffee recipes you should try this summer
- "To sit and talk in the box...!" Kohli's message to critics as RCB wrecks GT in IPL Match 45
- 7 Nutritious and flavourful tiffin ideas to pack for school
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- Top 5 places to visit near Rishikesh
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market