Mumbai: Taking over the reins of USD 103 billion Tata Group, Natarajan Chandrasekaran today called for more rigour in capital allocation so as to enhance shareholder value as also individual businesses of the conglomerate topping in their sectors.
The 30-year company veteran, Chandrasekaran, or Chandra as he's known, listed "enabling higher shareholder value" and making a significant and lasting social impact as his priorities as the Chairman of Tata Sons.
Taking over after a very public 4-month long boardroom battle involving ousted chairman Cyrus Mistry, he said the 'Tata Code of Conduct' has always been the bedrock of his personal commitment to value system and will always remain at the core of his leadership.
"We need to work together to excel, and to be ranked among the top performers in our respective industries," Chandra, 53, wrote to the group employees on his first day in office. "We will also bring more rigour to our capital allocation in order to consistently enhance stakeholder value."
Saying that it was humbling to lead the 150-year old Group, he said the Tata brand occupies a special place in people's hearts and minds as the flag bearers for trust and social responsibility.
"I have taken pride in our achievements as a group, in our ability to innovate and take risks in order to create pioneering and global businesses, and in our ongoing
contribution to the communities that we work in," he wrote.
Credited with creating India's largest IT company TCS, Chandra said a key part of entrepreneurial DNA in Tata Group has always been its pioneering spirit and "ability to lead and not follow".
He said: "As a group, we have enormous collective strengths. Working together, our companies, Tata Sons and the Tata Trusts have been very successful in the past, and have created great value for all our stakeholders.
"Now, as we face the future, we have a huge opportunity to do so once again in terms of our business performance, by enabling higher shareholder value, as well as by making a significant and lasting social impact with a view to make a sustainable difference in communities."
To achieve this, he said, a relentless focus on the customer, gaining a deeper understanding of their aspirations, and by designing products and services to meet their needs is needed.
"In today's context, where technology is playing a key role in business success, the need for innovation is vital to help reimagine and reinvent our businesses for the future," Chandra said.
Stating that Tata Group employees bring passion into everything they do, he said, "We need to work together to excel, and to be ranked among the top performers in our
respective industries. We will also bring more rigour to our capital allocation in order to consistently enhance stakeholder value."
He said he has had the opportunity of working and interacting with several "legendary leaders" at the group and was fortunate to work closely with Ratan Tata, "who
relentlessly challenged us at TCS to be the leader. He is an inspiration for all of us in the group and I look forward to taking the group forward in the same spirit".
"I have always believed that living these values every day has contributed significantly to our sustained business success and to the reputation of the Tata brand globally. The Tata Code of Conduct has always been the bedrock of my personal commitment to our value system. It will always remain at the core of my leadership of our group," he said.
He expressed his deep appreciation for commitment of the employees to the ideals of the Tata group.
"We will strengthen and enhance all our employee engagement platforms and create new ones so that we can share ideas, collaborate and shape the future of the Tata Group
together. It will be my endeavour to work with all of you to bring the power of 'One Tata' to bear upon our business, our employees and the community at large."
Updated Date: Feb 21, 2017 18:28 PM