As per a Bloomberg report, people engaged in the deliberations said that Tata Sons is considering a historic revamp of its leadership structure by creating a chief executive officer’s role to help improve corporate governance.
According to the people in the report, the CEO will be appointed to guide the sprawling businesses of the 153-year-old Tata empire, while the chairman will oversee the chief executive on behalf of shareholders. Adding they said that approval of Ratan Tata -- the octogenarian chairman of controlling owner Tata Trusts - is seen as key to implementing the change, they said.
Notably, Tata Sons are considering extending the current chairman Natarajan Chandrasekaran's post after his tenure will end in February.
Also, the people said that heads of various Tata group firms, including Tata Steel, are being evaluated for the CEO position.
However, Tata Sons have not confirmed the development.
Tata companies that are listed on stock exchanges are - Tata Consultancy Services, Tata Steel, Tata Motors, Titan, Tata Chemicals, Tata Power, Tata Consumer Products, Tata Communications, Indian Hotels, Trent, Tata Metaliks, Tata Elxsi and Tata Coffee among others.