He is absolutely the perfect choice, a great leader: Ishaat Hussain, TCS Director on Natarajan Chandrasekaran to be next Tata Sons Chairman pic.twitter.com/wUfrrHxxWG? ANI (@ANI_news) January 12, 2017
In a statement, Chandrasekaran said: “I am humbled and honoured to be chosen to lead a truly great institution... I want to thank the Tata Sons Board and Mr. Ratan N. Tata for their confidence in me... I am aware that this role comes with huge responsibilities. It will be my endeavour to help progress the group with the ethos, ethics and values that the Tata group has been built on.”
Its a huge honour to head the group, the common man always says Tata toh humaari company hai: Natarajan Chandrasekaran pic.twitter.com/XzNCVooIKR? ANI (@ANI_news) January 12, 2017
In October, Tata Sons' board set up a five-member selection committee, which included Ratan Tata, to choose a new chairman within four months.
Tata Sons is the holding company for the Tata group.
Although, the reasons for the “coup” are not entirely clear, the fallout eroded Rs 1 lakh crore from the M-cap of listed Tata firms in the month after October 24. Investors held off from buying Tata scrips because the shares were underperforming. Although TCS was caught in the market maelstrom, it weathered it well.
Net profit for the October-December quarter rose 2.9% whereas total income rose 10.1%. Revenue in rupee terms rose by 8.7% to Rs 29,735 crore. The company’s return on investment (RoI) is phenomenal. It employs 10% of the group’s total capital while contributing much more than that in income and dividends, according to CNBC TV18.
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