The Tata Sons board has appointed N Chandrasekaran, the chairman of Tata Sons, has been officially appointed as chairman of Air India. The Tata Sons Board on Monday cleared the appointment of Chandrasekaran as the next chairman of the domestic carrier. However, the hunt for Air India CEO continues. In addition, Alice GeeVarghese Vaidyan, former CMD of General Insurance Corporation, will also be inducted as an independent director on board, officials said.
In February, the board of Tata Sons Ltd, the holding company and promoter of $110 billion Tata group companies, has reappointed N Chandrasekaran as Executive Chairman for another five years.
“At its meeting on February 11, 2022, the board of Tata Sons reviewed the last five years and considered the reappointment of its Executive Chairman N Chandrasekaran,” it said in a statement.
Ratan N Tata who was a special invitee to this meeting expressed his satisfaction on the progress and performance of the Tata group under the leadership of Chandrasekaran. “He recommended his term be renewed for a further five-year period,” Tata Sons said.
Tata, on February 14, announced Ayci’s appointment as CEO and Managing Director of previously state-run Air India after taking over the debt-laden airline in January in a $2.4 billion equity and debt deal.
However, earlier this month, Turkish national Ilker Ayci had declined to be the chief executive of Air India as “some sections of the Indian media” had attempted to “colour” his appointment in an undesirable manner.
He also mentioned, “I remain grateful to the Chairman of Tata Group, Mr. N. Chandrasekaran and the Tata Group for extending to me the honor and the opportunity to lead Air India.”
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