Tata Sons chairman N Chandrasekaran on Wednesday said there are no leadership changes on the anvil at the company. "I would like to state that no leadership structural changes are on the anvil," Chandrasekaran said in a brief statement. The statement comes in response to a Bloomberg report which said that Tata Sons were considering a "historic revamp of its leadership structure by creating a chief executive officer's role to help improve corporate governance."
The CEO position, it said, was to be created below the current position of chairman, to "guide the sprawling businesses of the 153-year-old Tata empire." Chandrasekaran said decisions of such kind are taken by the Nomination and Remuneration Committee of the board.
Ratan Tata, Chairman of Tata Trusts that holds controlling stake in Tata Sons, had separately expressed his disappointment over reports suggesting a major revamp in the leadership structure of the group. In a separate statement, Ratan Tata said "such speculation can only serve to cause disruption amongst a team that has been operating smoothly with impressive growth in market value."