Indian Hotels appoints Chandrasekaran as Non-Executive Additional Director
Mumbai, Jan 27 (IANS) The Indian Hotels, a Tata group company, on Friday appointed Tata Sons Chairman-designate Natarajan Chandrasekaran as a Non-Executive Additional Director.
“The company Board of Directors appointed Chandrasekaran as an Additional Director of the company in Non-Executive capacity with immediate effect,” the hospitality firm said in a regulatory filing.
Chandrasekaran, 53, who has spent some 30 years in the Tata Group, will be the new Executive Chairman of Tata Sons — the first non-Parsi to head the $103-billion global empire with a 148-year history, it was announced on Thursday.
He will take over the Tata Sons’ reins on February 21.
Chandrasekaran succeeds Cyrus Mistry, who was removed as Tata Sons Chairman on October 24. Ratan Tata was named the Interim Chairman of the Tata Sons.
A group selection committee was constituted after Mistry’s removal with the mandate to recommend a name for the new chairman within four months.
Considered an “insider”, Chandrasekaran had already been inducted into the Board of Tata Sons in October last year as Additional Director, a day after Mistry was unceremoniously removed.
An avid photographer and a passionate marathoner, Chandrasekaran or Chandra, as he is called by his peers, has been associated with the TCS since 1987. Since then, he has seen TCS revenues grow to $16.5 billion, with 371,000 consultants and a market cap of over $70 billion.