Tata’s flagship hospitality company, Indian Hotels Company Ltd. (IHCL) is preparing for changes at the top as Ratan Tata is about to step down as chairman from the holding company Tata Sons at the end of 2012. IHCL owns and operates Taj Hotels and Resorts brand and its subsidiaries in the country.
According to two senior officials in Bombay House - the headquarters of the Tata Group - who are familiar with the succession exercise, discussions are underway on a structure that veers away from the one that prevails today. Unlike the current arrangement in which Tata is non-executive chairman of main companies, a structure is being discussed whereby the non-executive Vice-Chairman of IHCL could be promoted to the post of Chairman. If it gets the go-ahead, RK Krishna Kumar who is the vice chairman at present, will become Chairman of Tata Steel and IHCL. Krishna Kumar is also the vice-chairman of Tata Global Beverages. The process to complete the succession exercise at the helm of Tata's flagship companies will commence in less than a couple of months, the officials familiar with the moves said. Further, the process to get shareholder approval will be initiated with the release of the annual reports of the group companies. A senior group official said on condition of anonymity that the top brass at Tata Sons has discussed the possibility of adopting a model that was practised by Ratan Tata's predecessor, the late JRD Tata, in which flagship companies had their own Chairmen.
Source
Commis II Indian - Jobs in India
According to two senior officials in Bombay House - the headquarters of the Tata Group - who are familiar with the succession exercise, discussions are underway on a structure that veers away from the one that prevails today. Unlike the current arrangement in which Tata is non-executive chairman of main companies, a structure is being discussed whereby the non-executive Vice-Chairman of IHCL could be promoted to the post of Chairman. If it gets the go-ahead, RK Krishna Kumar who is the vice chairman at present, will become Chairman of Tata Steel and IHCL. Krishna Kumar is also the vice-chairman of Tata Global Beverages. The process to complete the succession exercise at the helm of Tata's flagship companies will commence in less than a couple of months, the officials familiar with the moves said. Further, the process to get shareholder approval will be initiated with the release of the annual reports of the group companies. A senior group official said on condition of anonymity that the top brass at Tata Sons has discussed the possibility of adopting a model that was practised by Ratan Tata's predecessor, the late JRD Tata, in which flagship companies had their own Chairmen.
Source
Commis II Indian - Jobs in India