Natarajan Chandrasekaran formally took charge as chairman of Tata Sons on Tuesday at the Bombay House, Tata group headquarters.
"Tata Sons Ltd has nominated N. Chandrasekaran as the Chairman of the Board of Directors of the company in place of Ishaat Hussain from February 21," said TCS in a regulatory filing to the BSE.
Chandrasekharan was briefed on issues facing the group by the interim chairman Ratan Tata who will formally step down today after Chandra takes charge. Ratan Tata will continue to be the chairman of Tata Trusts, which owns more than two-third of the stake of Tata Sons. While Chandra has been briefed on top Tata Group priorities, he has been given a free hand to take a decision on building his team or working on group priorities.
Chandra, 54, a computer engineer, who is understood to have chosen today as an auspicious date to step into his predecessor Cyrus Mistry’s shoes will kick off the day with his first formal Tata Sons board meeting, top officials said.
The new chairman has already begun meeting CEOs of various top companies who are making presentations on their business priorities and current operations. Top officials close to the development said the 2020 growth strategy put forth by Cyrus Mistry to the Tata Sons board has been discarded and will be replaced by a new one by Chandra.