Tata Sons appoints Venu Srinivasan, Ajay Piramal as non-executive directors
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Mumbai: Tata Sons Ltd, the holding company of Tata Group companies, on Thursday named Venu Srinivasan and Ajay Piramal as its non-executive directors.
While Venu Srinivasan is chairman of Sundaram-Clayton Ltd and TVS Motor Co. Ltd, Ajay Piramal is chairman of the Piramal Group and the Shriram Group. The appointment is effective on Thursday, Tata Sons said in a statement.
Tata Sons is the promoter of major operating Tata companies, holding significant shareholdings in them.
Srinivasan was president of the lobby group Confederation of Indian Industries (CII) in 2009-10, president of the Society of Indian Automobile Manufacturers during 1999-2001, and is currently chairman of the National Safety Council, Government of India.
Piramal serves on the Harvard Business School’s board of dean’s advisors, serves as the chairman of Pratham (the world’s largest NGO in primary education), and was the former chairman of the board of governors of IIT Indore.
The $103 billion Tata Group has over 100 independent operating companies and is present in more than 100 countries.
About 66% of the equity capital of Tata Sons is held by philanthropic trusts endowed by members of the Tata family.