| | NOVEMBER 20248Noel Tata has been appointed to the board of Tata Sons, the holding company of the Tata Group, as a representative of Tata Trusts, according to reports. This appointment, approved through an online resolution at a virtual Tata Sons meeting, signifies Noel Tata's return to a prominent role within the Tata family empire.Just last month, Noel had assumed the chairmanship of Tata Trusts following the passing of Ratan Tata.Noel Tata, who has longstanding ties with Tata Group's various businesses, will be the first family member since 2011 to simultaneously serve on the boards of both Tata Sons and Tata Trusts.Tata Trusts, as the majority shareholder in Tata Sons with a 66% stake, has the authority to nominate one-third of the board's directors, according to the company's Articles of Association (AoA). This appointment of Noel Tata increases the number of Tata Trusts representatives on the Tata Sons board to three, joining Venu Srinivasan, TVS Chairman emeritus, and Vijay Singh, former defence ministry bureaucrat.Besides his new role at Tata Sons, Noel Tata continues his influence across the Tata Group ecosystem, remaining on the boards of other group entities.His longstanding role in the retail arm, Trent Ltd., which he has chaired since 2014, stands as a testament to his strategic acumen. Under his stewardship, Trent's revenue grew by a remarkable 430% from 2,333 crore in FY14 to 12,375 crore in FY24, transitioning from a loss of 19 crore to a profit of 1,477 crore.The Tata Sons board now comprises nine directors: two executive directors, including chairman N Chandrasekaran, three non-executive directors (including Noel Tata, Srinivasan, and Singh), and four independent directors. Tata Sons amended its Articles of Association in 2022, ensuring that no single individual would hold the chairmanship of both Tata Sons and Tata Trusts simultaneously a policy that underscores the group's commitment to governance and continuity.With this appointment, Noel Tata joins an executive committee at Tata Trusts alongside Mehli Mistry, Vijay Singh, and Srinivasan, further bolstering Tata Group's senior leadership as it embarks on a new era. Although Tata Sons declined to comment on the recent changes, industry analysts see Noel Tata's appointment as a move to balance the group's legacy with a vision for future growth. In a swift leadership shift, Schneider Electric has announced the departure of CEO Peter Herweck, who held the position for a year and a half, Herweck's exit stems from differences with the board regarding the strategic direction for the French energy management and automation giant. Group veteran Oliver Blum has been appointed CEO effective immediately, stepping in with a wealth of experience and long-standing commitment to the company. This move underscores Schneider's intention to maintain stability and coherence in its strategic roadmap.Olivier Blum,54, brings a 30-year legacy with Schneider Electric. Since joining in 1993, Blum has claimed the ranks within Schneider, taking on various critical roles in both France and Asia. His leadership has spanned continents, with responsibilities including Regional Head of Strategy for China and Regional Managing Director for India.In 2014, he joined Schneider's Executive Committee, further cementing his influence within the organization. The company is hopeful that Blum deep understands of Schneider's operations and strategic priorities will aid in stabilizing and advancing its growth in competitive markets.Schneider Electric, led by Chairman Jean-Pascal Tricorie, has grown significantly in recent years. Tricoire, who served as CEO for 17 years, transformed Schneider into one of France's largest companies, achieving a market valuation of $149 billion.Despite these accomplishments, Schneider has faced notable challenges. In the US market, it has struggled with supply chain constraints that have impacted its operations and growth. Additionally, Schneider was recently fined EUR 207 million by French regulators for activities between 2012 and 2018. The company, alongside other equipment manufactures, has expressed disagreement with the regulator's decision and is considering an appeal.As Oliver Blum steps into role as CEO, Schneider Electric aims to reinforce its position in the market, overcome existing challenges, and capitalize on opportunities in energy management and data center expansion to drive its next phase of growth SCHNEIDER ELECTRIC APPOINTS OLIVER BLUM AS CEONOEL TATA APPOINTED TO TATA SONS BOARD AS NOMINEE OF TATA TRUSTSIN FOCUSIN FOCUS
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