Tata Motors on Tuesday has appointed Tata Group’s chief designate Natarajan Chandrasekaran as additional director and chairman of the board. In a regulatory filing, the company said “the Board of Directors have today appointed Natarajan Chandrasekaran as additional director and Chairman of the board with immediate effect,” reported PTI.
The 54-year-old will now take charge at the helm of $103 billion Tata Sons, the holding company of the multinational conglomerate from February 21. Interestingly, Chandrasekaran will be the first non-Parsi chairman of the 150-year old Tata Group.
Chandrasekaran’s appointment comes just within a week after the group appointed him as its Executive Chairman, following two months of a bitter boardroom battle that followed the unceremonious sacking of Cyrus Mistry and letting of bad blood ever since.
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After wearing the chairman’s crown, he will have to take forward the responsibility of turning around the struggling homegrown auto major which is trying to regain the lost ground, specially in the passenger vehicles segment. Chandrasekaran will also have to ignite the dying Nano wing. Mistry had alleged that Tata Motors has been unable to shut down the loss making small car due to ’emotional reasons.’ The outsed chairman had also alleged that the Nano product development called for a car below Rs 1 lakh, but the cost was always above this.
Currently, Tata Motors is focusing on reviving its fortunes in the passenger vehicles segment with its compact hatchback Tiago receiving good response from the market. The company is scheduled to launch its premium SUV Hexa tomorrow.
With inputs from agencies…