No new CEO at Tata Sons

Tata Group’s chairman emeritus Ratan Tata and chairman N Chandrasekaran have denied the top leadership revamp at Tata Sons, the holding company. They were responding to the media reports that a new CEO position will be created in Tata Sons to oversee the group's business.

Tata says in a statement that such speculation can only serve to disrupt a team that has been operating smoothly with impressive growth in market value. “I am extremely disappointed with the recent media reports regarding a major revamp in the Tata group's organisation framework through a speculative company-wise restructure with me seen to be critical to implementing this change,” Chandrasekaran says.

Chandrasekaran—who was appointed at the helm after the removal of Cyrus Mistry—says they are “extremely disappointed” with such stories that disrupt regular operations. “I would like to state that no leadership structural changes are on the anvil, as speculated in certain sections of the media. Any such decisions, if relevant, are taken by the Nomination and Remuneration Committee," the chairman adds.

Tata Sons has a nine-member leadership team at present to oversee the operations of group companies and decide on the investments in new sectors as well as in existing businesses. Saurabh Agrawal (group chief financial officer), Banmali Agrawala (president - infrastructure, defence & aerospace), Aarthi Subramanian (chief digital officer), Harish Bhat (brand custodian), Suprakash Mukhopadhyay (company secretary, Tata Sons & group corporate secretary), Roopa Purushothaman (chief economist & head of policy and advocacy), Nupur Mallick (chief human resources officer) and Siddharth Sharma (group chief sustainability officer) are the members of the leadership team.