Tata Sons may today announce the name of its new Chairman, with officials saying the selection of a replacement for the ousted Cyrus Mistry is imminent.
As per CNBC-TV18, a person close to the developments had reported of an unscheduled board meeting on Thursday at 5 pm, adding that the five-member selection committee is likely to have zeroed in on a "well-known insider" for the top job.
Ratan Tata has been serving as interim Chairman since the Tata Group removed Cyrus Mistry on October 24.
According to sources, the Tata Sons Board may create a new position of Vice-Chairman and expand the top deck.
The USD 103-billion conglomerate had earlier set a February deadline to finalize a Chairman for holding Tata Sons.
People familiar with the matter said the five-member selection committee comprising interim Chairman Ratan Tata, TVS Group Chairman Venu Srinivasan, Bain Capital's Amit Chandra, Ronen Sen and Lord Kumar Bhattacharyya, had held several meetings in recent weeks to zero in on a new pick.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app