Tata Sons and Tata Trusts Will Now Have Separate Chairpersons.

The shareholders of Tata Sons have assented to a resolution which proposes separate chairpersons for the company and Tata Trusts which is its largest shareholders. The Articles of Association (AoA) of Tata Sons was amended to add a stipulation that prevents a single person from heading Tata Sons as well Tata Trust simultaneously thus making it legal obligation for the two companies to have separate chairpersons. As far as the corporate structure is concerned, Tata Sons is the principal holding company and promoter of Tata Group companies with 66 per cent of its equity share capital held by Tata Trusts.

Also, under the amended AoA, for the removal of the incumbent chairperson and the appointment of the new chairman, a selective panel would have to be formed. The reappointments of Ajay Piram and Venu Srinvasan as directors of Tata Sons, along with appointment of Anita George as independent director.