Tata Chemicals board has approved recommendations of the Nomination and Remuneration Committee and appointed N. Chandrasekaran as an Additional Director and Chairman of the Board of Directors of the company.
Chandrasekaran is currently the Chairman of the Board at Tata Sons which is the parent of Tata Chemicals.
Chandrasekaran joined the Board of Tata Sons in October 2016 and was appointed Chairman in January 2017. He also chairs the Boards of several group operating companies, including Tata Steel, Tata Motors, Tata Power, and Tata Consultancy Services (TCS) – of which he was Chief Executive from 2009-17.
His appointment as Chairman of Tata Sons followed a 30- year business career at TCS, which he joined from university.
Apart from this, Tata Chemicals has also informed exchanges that Bhaskar Bhat has tendered his resignation as the Director of the Company effective November 24, 2020.
On Wednesday, Tata Chemicals was trading at Rs367.95 per piece on Sensex, broadly flat compared to the previous closing.
However, the stock has hit a 52-week high of Rs376.05 per piece in early deals on the appointment of Chandrasekaran.