 "Tata Group sets up group executive council; Cyrus Mistry to chair")
Mumbai: Tata Sons today announced the formation of a new group executive council (GEC) under the leadership of group chairman Cyrus P Mistry, replacing both the existing group corporate centre and the group executive office. The objective of the council is to provide strategic and operational support to the group chairman, Tata Sons said in a statement, adding that the mandate of the council is to “own and drive the delivery of the core purpose of Tata Sons, which is long-term value creation for all stakeholders”.
The group also announced the appointment of N S Rajan from Ernst & Young as the new member and the new group chief human resources officer. The other members of the council are Mukund Govind Rajan, who will oversee the Tata brand, communication, ethics & CSR, and the ex-BSE chief Madhu Kannan, who will head business development and public affairs, the group said in a statement.
Tata Sons, the holding company of the over $100 billion salt-to-software Tata Group, said the GEC will be chaired by the group chairman Mistry, and comprise other top executives of Tata Sons.The GEC, under the aegis of the Tata Sons board, will now assume the responsibility for all the roles earlier performed by the group corporate centre (GCC) and the group executive office (GEO).
“The agenda of the GEC includes, return on investment with a long-term perspective; support for and shaping of the agenda for philanthropy; preserving and enhancing the reputation of the Tata name; defining and driving a Tata way of working for group companies; and playing a proactive role so that the group fulfils its responsibility as a global corporate citizen,” the statement said.The council will also be responsible for “defining and driving a Tata way of working for group companies and playing a proactive role so that the group fulfils its responsibility as a global corporate citizen”, Tata Sons said.
The GEC will work closely with and partner the Boards, CEOs and senior management of the various Tata companies.
Members of the GEC will be assigned responsibilities by the Chairman of Tata Sons, lead various strategic functions
besides also serving as nominees of Tata Sons on the Boards of Tata companies.
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