Tata Sons Board Meet: Heads Of Air India, Tata Electronics Address Noel Tata's Concerns; Next Board Meet On June 12
· Free Press Journal
In the high-stakes meeting of the Tata Sons board on Tuesday, chief executives of some Tata Group companies addressed concerns raised by Noel Tata, the nominee of Tata Trusts on the board.
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Air India CEO Campbell Wilson, Tata Electronics CEO Randhir Thakur, and Tata Digital CEO Sajith Sivanandan were among the business heads who answered questions about the future of these companies, according to a report by Business Standard.
Presentations on some other Tata Group businesses that are making losses are expected to be made at the next meeting on June 8, Moneycontrol reported.
Noel Tata, Chandrasekaran Meet Ahead Of Tata Sons Board Meeting On TuesdayThe June 8 meeting is considered important because Tata Trusts remains the controlling shareholder of Tata Sons and plays a major role in the governance and oversight of the Tata Group.
Presentations before the trustees could become an important factor in future discussions about giving Tata Sons Chairman N. Chandrasekaran a possible third term, the Moneycontrol report said.
It is not yet clear who will make the presentations before the trustees. However, Tata Trusts Chairman Noel Tata is expected to share his views and feedback with the trustees after Tuesday’s Tata Sons board meeting.
Tuesday’s meeting was held smoothly without any major conflict or confrontation.
Chandrasekaran To Address Business Concerns Raised By Noel Tata In Upcoming Meeting On Tata SonsThe presentations mainly focused on explaining why the group has continued investing heavily in some newer businesses that are still making losses.
They also explained the long-term business plans and future growth expectations for these ventures.
However, no completely new business strategy or fresh long-term plan was formally presented during the meeting, according to reports.
Instead, most discussions focused on explaining why many of these businesses are still loss-making despite large investments and why the group considers them long-term strategic investments rather than businesses expected to generate profits quickly.
People aware of the matter said Noel Tata, who had earlier raised concerns about capital allocation and losses in some Tata Group businesses, did not make any major comments during Tuesday’s meeting.