Tata Sons on Tuesday announced the formation of a new group executive council (GEC) under the leadership of group chairman Cyrus P Mistry, replacing both the existing group corporate centre and the group executive office.
The objective of the council is to provide strategic and operational support to the group chairman, Tata Sons said in a statement, adding that the mandate of the council is to "own and drive the delivery of the core purpose of Tata Sons, which is long-term value creation for all stakeholders".
The group also announced the appointment of N S Rajan from Ernst & Young as the new member and the new group chief human resources officer.
The other members of the council are Mukund Govind Rajan, who will oversee the Tata brand, communication, ethics & CSR, and the ex-BSE chief Madhu Kannan, who will head business development and public affairs, the group said in a statement.
Tata Sons, the holding company of the over $100 billion salt-to-software Tata Group, said the GEC will be chaired by the group chairman Mistry, and comprise other top executives of Tata Sons.
The GEC, under the aegis of the Tata Sons board, will now assume the responsibility for all the roles earlier performed by the group corporate centre (GCC) and the group executive office (GEO).
"The agenda of the GEC includes, return on investment with a long-term perspective; support for and shaping of the agenda for philanthropy; preserving and enhancing the reputation of the Tata name; defining and driving a Tata way of working for group companies; and playing a proactive role so that the group fulfils its responsibility as a global corporate citizen," the statement said.
The GEC will work closely with and partner the boards, CEOs and senior management of the various Tata companies.
The GEC members will be assigned responsibilities by the group chairman, lead various strategic functions besides also serving as nominees of Tata Sons on the boards of Tata companies.
The initial membership of the GEC will include N S Rajan, who will lead the strategic function of HR, Mukund Govind Rajan, who will oversee the Tata brand, communication, ethics & CSR, and Madhu Kannan, who will head business development and public affairs.
Other appointees to the GEC will be announced in due course, the group said.
NS Rajan, currently partner and global leader-people & organisation at Ernst & Young and will report to Mistry, effective May 9.
His three decades of work experience spans industry and consulting, in both line and staff functions at companies like Ranbaxy, Asian Paints, BlowPlast, ABC Consultants, Asia Online and E&Y.
He joined E&Y in 2001 as Indian people & organisation (P&O) practice leader and is a graduate in Economics from LoyolaCollege, Chennai, and a post graduate in business management from XLRI, Jamshedpur.
Image: Tata Group Chairman Cyrus P Mistry.