Tata Motors today appointed Tata Group Chief N Chandrasekaran its Chairman. “The job is complex but I am sure he will take the group to new heights while protecting the group’s values and ethics at all times”, Ratan Tata said in a statement.
“The Board of directors have today appointed Natarajan Chandrasekaran as additional director and Chairman of the board with immediate effect”, the company said in a regulatory filing.
Tata Group Chief N Chandrasekaran has been appointed as Tata Motors Chairman, Ratan Tata calls his job ‘tough’
The previous week Chandrasekaran was appointed as the Chairman of the Tata Sons Group.
Chandrasekaran’s appointment as the Chairman of the Tata Sons came after the two-month-long bitter spat with the former Chairman of Tata Group, Cyrus Mistry.
He is expected to work to boost the sales of the Tata Motors where the sale of the passenger vehicles segment has been on a decline for quite a long time.
The Former Chairman Cyrus Mistry had said that the Nano car of Tata Motors has been fetching losses for the company for quite a long time, but Tata denies to shut down its manufacture for the ’emotional reasons’.
He said in a written letter, “This product has consistently lost money, peaking at Rs 1000 crore… as there is no line of profitability for the Nano, any turnaround strategy for the company requires to shut it down. Emotional reasons alone have kept us away from this crucial decision.”