The board of directors of Tata Sons met on Friday. It also happened to be the last meeting for two of its directors — Amit Chandra and Ranendra Sen.
Sen, a non-executive independent director on the board, left as he reached his retirement age.
But for Chandra, it was a formal acceptance of his resignation.
With the two exits, the nine-member board of Tata group’s holding company (excluding Chairman N Chandrasekaran) will reduce to seven. It now comprises Venu Srinivasan, group chairman and managing director of TVS group; Harish Manwani, former group chairman of Unilever; Farida Khambatta, former member of IFC’s management group; Ralf Speth, CEO of Jaguar Land Rover; Ajay Piramal, chairman of Piramal and Shriram groups; Bhaskar Bhat, CEO of Titan; and Saurabh Agarwal, group CFO of Tata Sons.
ALSO READ: Tata Sons chairman N Chandrasekaran cautions on macro challenges in 2019
Chandra had expressed his desire to step down as non-executive director of Tata Sons last year, citing personal reasons.
His term was coming to an end in March. The managing director of Bain Capital had already stepped down as a trustee of various Tata Trusts. Chandra was also the only representative on the Tata Sons board representing the trusts.
Sen was inducted on Tata Sons’ board in April 2015. He was India’s ambassador to the US from 2004 to 2009. He was India’s ambassador to Mexico (1991-92), to the Russian Federation (1992-98) and the Federal Republic of Germany (1998-2002), and also served as high commissioner to the UK (2002-04).
Sen, 74, had also served on the board of Tata Motors as non-executive independent director for
two years.
Sen, a non-executive independent director on the board, left as he reached his retirement age.
But for Chandra, it was a formal acceptance of his resignation.
With the two exits, the nine-member board of Tata group’s holding company (excluding Chairman N Chandrasekaran) will reduce to seven. It now comprises Venu Srinivasan, group chairman and managing director of TVS group; Harish Manwani, former group chairman of Unilever; Farida Khambatta, former member of IFC’s management group; Ralf Speth, CEO of Jaguar Land Rover; Ajay Piramal, chairman of Piramal and Shriram groups; Bhaskar Bhat, CEO of Titan; and Saurabh Agarwal, group CFO of Tata Sons.
ALSO READ: Tata Sons chairman N Chandrasekaran cautions on macro challenges in 2019
Chandra had expressed his desire to step down as non-executive director of Tata Sons last year, citing personal reasons.
His term was coming to an end in March. The managing director of Bain Capital had already stepped down as a trustee of various Tata Trusts. Chandra was also the only representative on the Tata Sons board representing the trusts.
Sen was inducted on Tata Sons’ board in April 2015. He was India’s ambassador to the US from 2004 to 2009. He was India’s ambassador to Mexico (1991-92), to the Russian Federation (1992-98) and the Federal Republic of Germany (1998-2002), and also served as high commissioner to the UK (2002-04).
Sen, 74, had also served on the board of Tata Motors as non-executive independent director for
two years.
No comments:
Post a Comment