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Tata Global Beverages Appoint N Chandrasekaran As Chairman

Chandrasekaran took over as Chairman of Tata Sons, the holding company of over 100 group firms in February, following Cyrus Mistry's ouster last year.

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Tata Global Beverages Appoint N Chandrasekaran As Chairman
New Delhi: Tata Global Beverages Ltd on Monday appointed Tata Sons head N Chandrasekaran as Chairman with immediate effect.

TGBL is the latest group firm of the over $100-billion salt-to-software conglomerate to appoint Chandrasekaran as Chairman following the likes of Tata Steel, Tata Motors, Tata Power, Indian Hotels and Tata Consultancy Services.

Chandrasekaran took over as Chairman of Tata Sons, the holding company of over 100 group firms in February, following Cyrus Mistry's ouster last year.

The TGBL board at its meeting today approved his appointment as Additional Director and as Chairman of the Board in place of Harish Bhat "who expressed a desire to step down as Chairman", the company said in a statement.

The Board has also appointed Siraj Azmat Chaudhry as Non Executive Independent Director, it added.

Chandrasekaran exuded confidence over the future of TGBL, saying it is a strong player in FMCG segment with major brands such as Tetley and Tata Tea.

"The company has built deep capabilities in this space and is well poised to address many significant consumer trends and opportunities over the years ahead," he said.

Bhatt, who has stepped down as TGBL Chairman, would continue on the board as a non executive director.

On November 15, ousted Tata Sons Chairman Cyrus Mistry was voted out as chairman by the board of the Tata Global Beverages and Harish Bhat was appointed in his place.

Seven out of 10 directors at the board meeting of Tata Global Beverages, had voted for removal of Mistry as chairman of the company.

TGBL's total consolidated income for the fiscal year 2016-17 stood at Rs 6,862.65 crore. It has tea brand as Tata Tea, Tetley, Good Earth Teas, Vitax, teapigs and JEMCA.

Its the second largest tea company, with significant brand presence in over 40 countries across Asia, Europe, North America, Middle East, Africa and Australia.

In coffee segment, it has brands such as Eight O'Clock, Grand, map. The Tata group firm also operates a coffee chain with Starbuck in India in a 50:50 joint venture.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)


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