Mumbai: The Tata group on Thursday announced top-tier management changes at three of its listed firms, Tata Power Co. Ltd, Tata Communications Ltd and Tata Teleservices (Maharashtra) Ltd (TTML), effective 1 February.
Tata Power managing director Prasad Menon’s impending retirement on 31 January necessitated the changes.
Anil Sardana, who is currently managing director of Tata Teleservices and TTML, will replace Menon, while N. Srinath, managing director and chief executive officer of Tata Communications, will replace Sardana.
“Srinath will continue to be a non-executive director on the board of Tata Communications and some of its subsidiary/associate companies such as Neotel,” the company said in a media release.
Vinod Kumar, who is president and chief operating officer of Tata Communications and managing director of Tata Communications International, will take up Srinath’s current post.
The changes are typical of the $62.5 billion (Rs2.8 trillion) group’s succession planning.
Menon had worked as managing director of Tata Chemicals Ltd for six years before taking over at Tata Power in October 2006. He joined Tata Chemicals from Hyderabad-based Nagarjuna Group. “The Tata Group will make space for him in some capacity for sure, but right now it is unclear,” said a company spokesperson.
Sardana, who replaces Menon, started with Tata Power in 2002 from the erstwhile BSES to lead the company’s distribution business as chief executive and later as managing director. He became executive director at Tata Power before taking over at Tata Teleservices three years ago.
Srinath has been with the group since joining the Tata Administrative Services in 1986 as a probationer. He started as a project executive in Tata Honeywell from 1987 to 1988, working on getting approvals and project funding. Tata Honeywell was then a joint venture between the Tatas and Honeywell, with manufacturing, design and engineering facilities in Pune. The joint venture ended in 2004.