Ratan Tata on Friday said N Chandrasekaran, the newly-appointed chairperson of Tata Sons, would take the company to “new heights while protecting the group’s values and ethics at all times”. “It is a well-deserved recognition of his proven leadership capabilities” the businessman and philanthropist said in a statement.
Chandrasekaran was the chief executive and managing director of Tata Consultancy services before being named the new chairperson of Tata Sons. He will be succeeded at TCS by Rajesh Gopinath.
His appointment came following Cyrus Mistry’s ouster from the position on October 24, after which Ratan Tata had taken over as interim chairman of Tata Sons. Chandrasekaran will take charge on February 21.
In a letter to TCS employees on Friday, Chandrasekaran said Gopinath, who was the chief financial officer of the company, had worked closely with him in “formulating and executing the company strategy”. “Despite the outstanding successes achieved thus far, I strongly believe that TCS’ best years lie ahead. I have every confidence that the new management team will take TCS to the next levels of our aspiration,” he said, according to The Economic Times.
The Tata camp has been in a legal tussle with Mistry since his removal from the post, with both parties hurling accusations at each other. Mistry had stepped down from all Tata Group companies on December 19, saying it was time to be “more incisive in securing the best interest of the Tata Group”. In his resignation letter, he had alleged that Ratan Tata had staged “an illegal coup” on October 24, the day he was sacked from his post in the conglomerate. Tata Sons has accused Mistry of misleading the 2011 selection committee set up to appoint Ratan Tata’s successor.