A Bloomberg on September 14, said, “For the first time since its existence, Tata Sons Ltd, the holding entity of $106 billion salt-to-software conglomerate Tata group, is considering to create a position of chief executive officer (CEO) as part of a leadership structure revamp.”
The news agency further mentioned that the sources related to the proposal filed is under consideration, whereas, the company hasn’t filed an official statement yet.
The anonymous sources, were not identifiable as the discourse remained private. Business tycoon, Ratan Tata, owner of Tata Trusts, is the sole person to execute the stated changes. As per the company’s official note, they are taking into consideration the heads of Tata group entities, along with the chief of Tata Steel Ltd, for the stated rank of Tata Sons’ CEO.
The working term of Tata Sons owner Natarajan Chandrasekaran has been extended to February 2022. The company added, no final decision has been taken, and the plan that is under consideration could be changed.
However, Tata Sons doesn’t fall under the proposed list of forms, but if executed timely will evolve in accordance with SEBI’s recommendation. This recommendation especially focuses on India’s top 500 listed entities which should segregate the position of CEO and chairman by April 2022.