Tata Sons, the holding company for India’s largest conglomerate, is considering an historic revamp of its leadership structure by creating a chief executive role to help improve corporate governance.
Under the plan being proposed, the chief executive will guide the sprawling businesses of the 153-year-old Tata empire, people engaged in the deliberations said.
The chairman will oversee the chief executive on behalf of shareholders, according to sources. The approval of Ratan Tata – the octogenarian chairman of controlling owner Tata Trusts – is seen as key to implementing the change, they said.
The current chairman of Tata Sons, Natarajan Chandrasekaran, is being considered for extension after his term ends in February. Heads of various Tata group companies, including Tata Steel, are being evaluated for the chief executive position, the sources said.
No final decision has been reached, and the plan and details could change, they said.
A spokeswoman for Tata Sons declined to comment. Emails to Tata Trusts and Ratan Tata were not answered.
The proposal comes months after former Tata Sons chairman Ratan Tata, 83, won a years-long legal battle with his successor, Cyrus P Mistry. Mr Mistry had alleged mismanagement at the group and sued the patriarch for removing him in 2016.
The proposed makeover may help chart a future for the conglomerate, which is at a crossroads after more than two decades of expansion under Ratan Tata’s leadership. It is not known who will succeed him as chairman of Tata Trusts, which owns 66 per cent of the holding company that runs the empire.
Shares of most of the listed companies of the Tata group advanced following the report. Tata Consultancy Services climbed as much as 1.3 per cent. Tata Motors added as much as 2 per cent on Tuesday, when the benchmark index of stocks was largely flat.
A new group chief executive will have to tackle many challenges. Tata Steel is racing to cut a net debt load of $10 billion, while Tata Motors – owner of British marque Jaguar Land Rover – had three consecutive years of losses up to March 2021.
The group’s plan to capitalise on India’s growing base of online shoppers has also yet to bear fruit. Despite having Tata Consultancy Services, Asia’s largest software services provider, at its disposal, a plan to launch an all-in-one e-commerce app to market its array of consumer products and services has been delayed.
With about 100 businesses and more than two dozen listed firms, the Tata group had a combined annual revenue of $106bn in 2020. Its 750,000 employees make cars and lorries, blend tea, forge steel, sell insurance, write software, operate phone networks and package salt, among much else.
The proposed leadership overhaul is in line with a recommendation by India’s market regulator that the nation’s top 500 listed companies have a separate chairman and chief executive by April 2022 for better governance, according to sources. Though Tata Sons is not listed, the change would help it comply with the rule, they said.
The addition of a professional manager at the top of the holding company also shines a spotlight on how Ratan Tata – who continues to shape the group – might envision his own transition from his current role of semi-retired chairman-emeritus.
Though Ratan Tata says he is no longer actively involved in business decisions, he still wields considerable influence over the group’s management through his leadership of Tata Trusts. After an Indian newspaper reported in July that Mr Chandrasekaran’s extension as chairman had been “informally ratified”, Ratan Tata issued a statement saying the board had not yet made a decision and no one approached him on the topic, reinforcing his clout.
Despite the familial link, Ratan Tata’s sway over the group also stems from his record as Tata Sons’ chairman between 1991 and 2012. A legendary figure of Indian business, he put the Tata group on the global map with a string of eye-catching deals over the past two decades, from the $2.3bn purchase of automaker JLR to the $13bn acquisition of British steel company Corus Group.
Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.
Based: Riyadh
Offices: UAE, Vietnam and Germany
Founded: September, 2020
Number of employees: 70
Sector: FinTech, online payment solutions
Funding to date: $116m in two funding rounds
Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices
Score
Third Test, Day 2
New Zealand 274
Pakistan 139-3 (61 ov)
Pakistan trail by 135 runs with 7 wickets remaining in the innings
The biog
Prefers vegetables and fish to meat and would choose salad over pizza
Walks daily as part of regular exercise routine
France is her favourite country to visit
Has written books and manuals on women’s education, first aid and health for the family
Family: Husband, three sons and a daughter
Fathiya Nadhari's instructions to her children was to give back to the country
The children worked as young volunteers in social, education and health campaigns
Her motto is to never stop working for the country
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
Virtuzone GCC Sixes
Date and venue Friday and Saturday, ICC Academy, Dubai Sports City
Time Matches start at 9am
Groups
A Blighty Ducks, Darjeeling Colts, Darjeeling Social, Dubai Wombats; B Darjeeling Veterans, Kuwait Casuals, Loose Cannons, Savannah Lions; C Awali Taverners, Darjeeling, Dromedary, Darjeeling Good Eggs
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
Naga
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WWE Super ShowDown results
Seth Rollins beat Baron Corbin to retain his WWE Universal title
Finn Balor defeated Andrade to stay WWE Intercontinental Championship
Shane McMahon defeated Roman Reigns
Lars Sullivan won by disqualification against Lucha House Party
Randy Orton beats Triple H
Braun Strowman beats Bobby Lashley
Kofi Kingston wins against Dolph Zigggler to retain the WWE World Heavyweight Championship
Mansoor Al Shehail won the 50-man Battle Royal
The Undertaker beat Goldberg
England Test squad
Ben Stokes (captain), Joe Root, James Anderson, Jonny Bairstow, Stuart Broad, Harry Brook, Zak Crawley, Ben Foakes, Jack Leach, Alex Lees, Craig Overton, Ollie Pope, Matthew Potts
UAE currency: the story behind the money in your pockets
Scores
Rajasthan Royals 160-8 (20 ov)
Kolkata Knight Riders 163-3 (18.5 ov)
Notable Yas events in 2017/18
October 13-14 KartZone (complimentary trials)
December 14-16 The Gulf 12 Hours Endurance race
March 5 Yas Marina Circuit Karting Enduro event
March 8-9 UAE Rotax Max Challenge
About%20My%20Father
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What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 201hp at 5,200rpm
Torque: 320Nm at 1,750-4,000rpm
Transmission: 6-speed auto
Fuel consumption: 8.7L/100km
Price: Dh133,900
On sale: now
RESULTS
2.30pm Jaguar I-Pace – Conditions (PA) Dh80,000 (Dirt)
1,600m
Winner Namrood, Antonio Fresu (jockey), Musabah Al Muhairi
(trainer)
3.05pm Land Rover Defender – Maiden (TB) Dh82,500 (D)
1,400m
Winner Shadzadi, Tadhg O’Shea, Bhupat Seemar
3.40pm Jaguar F-Type – Maiden (TB) Dh82,500 (Turf) 1,600m
Winner Tahdeed, Fernando Jara, Nicholas Bachalard
4.15pm New Range Rover – Handicap (TB) Dh87,500 (D) 1,400m
Winner Shanty Star, Richard Mullen, Rashed Bouresly
4.50pm Land Rover – Handicap (TB) Dh95,000 (T) 2,400m
Winner Autumn Pride, Bernardo Pinheiro, Helal Al Alawi
5.25pm Al Tayer Motor – Handicap (TB) Dh95,000 T) 1,000m
Winner Dahawi, Antonio Fresu, Musabah Al Muhairi
6pm Jaguar F-Pace SVR – Handicap (TB) Dh87,500 (D) 1,600m
Winner Scabbard, Sam Hitchcock, Doug Watson
WISH
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Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
Simran
Director Hansal Mehta
Stars: Kangana Ranaut, Soham Shah, Esha Tiwari Pandey
Three stars
West Indies v India - Third ODI
India 251-4 (50 overs)
Dhoni (78*), Rahane (72), Jadhav (40)
Cummins (2-56), Bishoo (1-38)
West Indies 158 (38.1 overs)
Mohammed (40), Powell (30), Hope (24)
Ashwin (3-28), Yadav (3-41), Pandya (2-32)
India won by 93 runs