Tata Trusts chief Ratan Tata and Tata Sons chairman N Chandrasekaran have rubbished the media report which claimed that the Tata Group is going to change its leadership. Now the CEO will be appointed in Tata Sons.
Ratan Tata has rejected the report on the appointment of CEO.
On Tuesday, a news came in which it was claimed that there is going to be a structural change in the management of Tata Sons. According to the report, now the CEO will be appointed in Tata Sons, changing the history of 150 years. However, the post of chairman of Tata Trusts will continue, which holds 66 per cent stake in Tata Sons. Today Ratan Tata himself and Tata Sons chairman N Chandrasekaran have rejected this report outright.
In a statement issued by Ratan Tata, it was said that I am very unhappy with the media report. He said that such baseless reports affect the team which is very comfortably looking after the affairs of Tata Group. Apart from him, Tata Sons chairman N Chandrasekaran also said that there is no structural change in the leadership of the holding company of the $ 106 billion conglomerate. “I would like to state that there is no structural change in the leadership,” Chandrasekaran said in a brief statement.
Claims for appointment of CEO in Tata Sons
The statement comes in connection with a Bloomberg news report that said Tata Sons is considering a “historic change in its leadership structure by creating a chief executive officer (CEO) position to help improve operations”. Still working. It said the position of CEO would be below the current position of chairman and that the CEO would “guide the vast business of the 153-year-old Tata empire.”
Such a report affects the team
Chandrasekaran said that any such decision is taken by the nomination and remuneration committee of the board. “Any such decision, if required, is taken by the Nomination and Remuneration Committee. We are deeply disappointed with such reports causing disruption in routine work.”
TCS market cap crosses $200 billion
Here today the market cap of Tata Consultancy Services has crossed $ 200 billion. Reliance Industries is currently the largest listed company with a market cap of $205 billion. TCS is a 50 year old company which was listed in the stock market in 2004. After 13.5 years, its market cap had crossed $100 billion. The next $100 billion was crossed in just 3.5 years. Talking about global IT companies, the market cap of Accenture is more than 216 billion dollars. IBM has a market cap of $122 billion and Infosys has a market cap of $99 billion.
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