N Chandrasekaran elected Tata Steel Board Chairman
N Chandrasekaran, chairman designate of Tata Sons and currently the CEO and Managing Director of Tata Consultancy Services, was on Tuesday elected as Chairman of Tata Steel Board.
"The Board of Directors today elected N Chandrasekaran as the Chairman of the Board. Chandrasekaran was appointed as a Member of the Board on January 13, 2017," Tata Steel said in a statement on Tuesday.
On January 17, Tata Motors had appointed Tata group chief designate Chandrasekaran as its Chairman with immediate effect.
Tata Steel Board on November 25 last year had removed ousted Tata Sons chairman Cyrus Mistry as the steel giant's chairman and appointed independent director O P Bhatt in his place.
Earlier on November 11, Tata Steel had said its board took note of the leadership changes at Tata Sons and had received a special notice from the promoter and principal shareholder to convene an Extraordinary General Meeting (EGM) for removal of Mistry and Nusli Wadia as its directors.
Following the elevation of Chandrasekaran as the Chairman Tata Sons, Rajesh Gopinathan was appointed the Chief Executive Officer and Managing Director of TCS effective February 21, 2017, the day Chandrasekaran, the current CEO & MD takes charge at the Tata Group's holding firm.
Chandrasekaran holds a graduate degree in Computer Applications from the Regional Engineering College, Trichy and an under-graduate degree in Applied Sciences from the Coimbatore Institute of Technology, Coimbatore, Tamil Nadu.
Speaking on this occasion, Chandrasekaran acknowledged, "Tata Steel is an iconic company that has stood tall for over a century. The Company has for long provided thought leadership in areas of sustainable business, ethics and stakeholder management. It is built on a unique culture of thinking about society and not just the business. I feel greatly honoured to be chosen as the Chairman and I accept this responsibility with a deep sense of humility."
Announcing other changes in the Board, Tata Steel said its Board of Directors also appointed Peter Blauwhoff as an Additional (Independent) Director. His appointment is effective immediately.