Finally a sweet halt to the unending speculation of who would be next Tata Sons Chairman.
The epicness quotient of 2016 soared to a phenomenal degree partly due to the sudden ouster of Cyrus Mistry from the board of Tata companies and also as Chairman of the Tata group.
There has been as unending speculation about who is going to become the new Chief of the giant. A lot has been said on paper and orally too. There was an intriguing war of words which went on between Cyrus and the interim Chairman of the group, Ratan Tata. But seems like the speculation has come to a happy ending.
India’s USD 100 billion conglomerate Tata Sons has officially announced it’s new chairman. Reportedly, Tata Sons held a board meeting at 4 pm, a meeting for which an agenda was not devised.
On Thursday, the software giant, Tata Consultancy Services Ltd popularly known as TCS announced it’s financial results. TCS head N. Chandrasekaran had been rumoured to be one of the leading contenders to replace Mistry. “Let’s not speculate,” Chandrasekaran said, when enquired about who is most likely to be named as the new Chairman of Tata Sons. But now the reality is not hidden from anybody.
Tata Sons, the holding company of the listed Tata group companies ousted its chairman Cyrus Mistry in October. In October, Tata Sons’ board had formulated a five-member selection committee that included Ratan Tata to choose a new chairman within the next four months, to take the operations in a more effective and efficient manner.
The persistent counter of allegations which were leveled consecutively by the ousted Mistry sand the Interim Chair Ratan Tata have disrupted the market stance of Nifty and Sensex. The major influence is largely because Tata occupies a major portion of the market. In every sector known, Tata has a formidable position and stake. Not only were the Indian markets tracked to a bumpy road, but the international market too, categorically US index namely Dow Jones too witnesses a major dip owing to the sudden development.
