TCS has delivered once again for the Tatas. Two decades ago (before it was listed), Ratan Tata used cash thrown up by the business to increase stakes in group companies.
This time, instead of cash, TCS delivered in kind.
Natarajan Chandrasekaran, its 53-year-old CEO, was named the new Executive Chairman of group holding company Tata Sons. Chandra, as he is popularly known, is the first non-Parsi to head the $103-billion global empire with a 148-year history.
“Chandrasekaran has demonstrated exemplary leadership as the Chief Executive Officer and Managing Director of Tata Consultancy Services,” a statement from Tata Sons said, announcing his elevation. On his part, Chandra said that the group is at an inflection point and that he is aware of the huge responsibilities that accompany his new
role. “At the Tata Group, we are at an inflection point. 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.”
Chandra will take charge on February 21.