Will a Tata lead salt-to-software conglomerate again?
Noel Tata, Ratan Tata's half-brother and Cyrus Mistry's brother-in-law may be in the running for the job once again.
The Selection Committee (SC) at Tata Sons is evaluating candidates to find a replacement for ex-chairman Cyrus Mistry.
Tata Consultancy Services (TCS) CEO N Chandrasekaran and Jaguar Land Rover (JLR) chief Ralf Speth were appointed on the board of Tata Sons earlier this week as additional directors. The two are touted as strong contenders for the top post. However, there is a possibility that another Tata may take control of the sprawling $100 billion empire.
Bloomberg reported that Noel Tata, Ratan Tata's half-brother and Cyrus Mistry's brother-in-law may be in the running for the job once again.
Noel, apart from top global CEOs like Arun Sarin of Vodafone, Indra Nooyi of Pepsi Co, Vikram Pandit of Citigrouup, and Carlos Ghosn of Renault-Nissan, was shortlisted in 2012 as well when Tata was due for retirement. At the time, Mistry was on the SC to find a replacement for Ratan Tata.
However, as time passed by, the SC decided to interview Mistry for the job instead. The Mistry family owns over 18% in Tata Sons.
What happened in 2012?
Tata Sons formed the Committee in 2010 to find a replacement for Ratan Tata who was due to retire in December 2012.
In 2010, Noel Tata was appointed as the managing director of Tata International. He is also the Chairman of Trent Ltd and Tata Investment Corporation.
Will Tata Sons look to keep the reigns of the business within the family as the Mistry experiment has failed miserably?