Mumbai: Tata Sons on Friday approved the reappointment of N Chandrasekaran as its Executive Chairman for another five years. The decision was taken during the board meeting, which was also attended by Ratan N Tata as a special invitee.

According to media reports, Ratan Tata is said to have expressed his satisfaction over the progress and performance made by Tata Group under the leadership of Chandrasekaran. The board meeting was held at Bombay House here.

“At its meeting on 11 February 2022, the Board of Tata Sons reviewed the last five years and considered the reappointment of its Executive Chairman N Chandrasekaran,” said Tata Sons in a statement, adding that Ratan N Tata who was a special invitee to this meeting expressed his satisfaction on the progress and performance of the Tata Group under the leadership of Chandrasekaran.

The board members commended the performance of the Executive Chairman and unanimously approved the re-appointment of Chandrasekaran as the Executive Chairman for the next five years, Tata Sons stated. “It has been a privilege to lead the Tata Group for the last five years and I am delighted at the opportunity to lead the Tata Group for another five years, in its next phase,” Chandrasekaran said.

Tata Sons is the principal investment holding company and promoter of Tata companies. In 2020-21, the revenue of Tata companies, taken together, was $103 billion. These companies collectively employ over 8,00,000 people. At present, there are 29 publicly listed Tata enterprises with a combined market capitalisation of $314 billion as of December 31, 2021, as reported in a section of media. /BI/