Natarajan Chandrasekaran, the 53 year old CEO and managing director of TCS BSE 0.87 %, was today made the chairman of Tata Sons. He will take charge on February 21.
The Tata Sons board, which met on Thursday evening, finalised the candidature. TCS CFO Rajesh Gopinathan will succeed Chandrasekaran as the CEO of the Tata Group flagship, TCS.
“Mr. Chandrasekaran has demonstrated exemplary leadership as the Chief Executive Officer and Managing Director of Tata Consultancy Services. We believe he will now inspire the entire Tata group to realise its potential acting as leaders in their respective businesses, always in keeping with our value system and ethics and adhering with the practices of the Tata group which have stood it in good stead,” The Board of Tata Sons said in a press release.
Popularly known as ‘Chandra’, the 54-year-old was chosen to step into the shoes of interim Chairman Ratan Tata, who took over on October 24 last year after the removal of Mistry.
The decision to appoint Chandra, a Tata group veteran, was taken at a meeting of Tata Sons board here, sources said.
Yesterday, Mistry family-owned two investment firms had filed a contempt application at NCLT against move by Tata Sons to remove him as director and sought an order to restrain the company from going ahead with its planned EGM on February 6 called to remove him.
In one of the biggest board room battles in history of India Inc, Tata Sons board had removed Mistry as Chairman citing loss of faith in his leadership and for the good of the future of the group, while his predecessor Ratan Tata was brought back as an interim Chairman.
Mistry, on the other hand, had alleged that Tata and other trustees of the Tata Trusts ran alternate power centre and he was reduced to a “lame duck Chairman”.
Chandrasekaran had joined TCS in 1987 after completing Masters in Computer Applications from Regional Engineering College, Trichy, Tamil Nadu.
Under his leadership, TCS generated consolidated revenues of USD 16.5 billion in 2015-16. The company remains the most valuable company in India as of 2015-16 with a market capitalisation of over USD 70 billion.
An avid photographer, he is also a passionate long-distance runner and completed several marathons around the world, including Amsterdam, Boston, Chicago, Berlin, Mumbai, New York, Prague, Stockholm, Salzburg and Tokyo.