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Lets Take a look days after of Ratan Tata
Noel Tata as chairman days after Ratan Tata
Days after Ratan Tata, Noel Tata has also reportedly done away with the key positions of CFO and Chief Operating Officer in the firm. According to the findings of The Economic Times, this move is directed to reduce expenses and thereby savings on management cost. Sources pointed out that Tata Trust, which owns 66 per cent stake in Tata Sons, had given a green signal to the same by giving its nod, this indicates that it plays the most important role in company’s major decisions.
Actually, discussions regarding the eradication of these positions were in place even before the departure of the late Ratan Tata. And now with Noel Tata coming on board at Tata Sons, the restructuring process has commenced. A recent internal survey and audit report revealed an alarming rise of Rs 180 crores in management costs, and hence this structure has been precipitated to take it forward.
Livemint reported that members of the Sir Ratan Tata Trust and Sir Dorabji Tata Trust are now allowed to hold their positions permanently.
Now that Noel Tata is shaping the company, the industry would watch how his leadership moulds Tata Sons in the future.
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