New Delhi: Tata Sons Friday reappointed N Chandrasekaran as executive chairman for another five-year term. “The board members commended the performance of the Executive Chairman and unanimously approved the reappointment of Mr. Chandrasekaran for the next five years,” Tata Sons said in a press release.
“Ratan Tata, who was a special invitee to the meeting, expressed his satisfaction with the progress and achievements of the Tata Group under the leadership of Mr. Chandrasekaran and recommended that his term be extended for another five-year period,” it said. press release. †
On his reappointment, Mr. Chandrasekaran said: “It has been a privilege to lead the Tata Group for the past five years and I am delighted to lead the Tata Group for another five years, in its next phase.”
He joined the board of Tata Sons in October 2016 and was appointed chairman in January 2017.
The Tata group had combined sales of about $103 billion (Rs 7.7 lakh crore) for the year ended March 31, 2021.
Recently, the Tata Group regained control of Air India after 69 years.
“We are delighted to have Air India back with the Tata group and are committed to making it a world class airline,” Mr Chandrasekaran had said.
He also met Prime Minister Narendra Modi ahead of the official handover.