Tata board appoints Ralf Speth, N Chandrasekaran as additional directors
25 October 2016
A day after Tata Group abruptly replaced Cyrus Mistry as chairman, Tata Sons' board today announced the appointment of Ralf Speth, CEO of Jaguar Land Rover, and N Chandrasekaran, CEO and MD of TCS, as additional directors on the Tata Sons' Board.
''Dr Ralf Speth, CEO of Jaguar Land Rover, and Mr N Chandrasekaran, CEO & Managing Director of Tata Consultancy Services (TCS), have been appointed as Additional Directors on the Tata Sons Board,'' the company said in a statement.
Commenting on their appointment, Ratan Tata who took over as the interim chairman, said: ''This is in recognition of their exemplary leadership in their companies.'' With the appointments of Speth and Chandrashekharan, Tata Sons board has expanded to 12 members.
Yesterday's announcement of chairman Mistry's dismissal as chairman (he remains a board member) stunned even Tata insiders and senior executives, people in the company said.
Earlier in the day, Ratan Tata asked CEOs of group firms to act as leaders in their respective markets and enhance returns to shareholders. Tata said that he had assumed the role of the interim chairman for stability and continuity so that there is no vacuum.