Tata Chairman Chandrasekaran skips TCS AGM too while Air India crash casts a long shadow
Tata Sons
Chairman N Chandrasekaran on Thursday skipped the Annual General Meeting (AGM) of
Tata Consultancy Services
(
TCS
), marking his absence from a shareholder gathering of the group for the second consecutive day.
TCS' Company Secretary Yashaswin Sheth informed shareholders of the largest IT services company in India that Chairman Chandrasekaran will not be able to attend the AGM due to 'some exigencies.'
Chandrasekaran could not attend the
Tata Consumer Products
AGM on Wednesday, reportedly because of his focus on the tragic crash of group company Air India's plane from Ahmedabad to London Gatwick last week, which has resulted in the loss of at least 270 people, including 241 passengers and crew of the aircraft.
Also Read:
Air India chairman N Chandrasekaran offers apology, says jet had no red flags, new engine, findings due in 30 days
Non-executive director P B Balaji had presided over the Tata Consumer meeting. Regulations permit another director to lead the meeting when the board chairman is unavailable.
Live Events
Tata Consumer initiated the annual general meeting sequence among major
Tata Group
companies, with TCS's AGM held today and
Tata Motors
' AGM scheduled for Friday.
It can be noted that Chandrasekaran was elevated to Tata Sons as the chairman in 2017, after being the CEO of TCS for eight years.
TCS' Sheth said the company directors have elected independent director Keki Mistry to preside over as the chairman for the AGM.
'This is a very difficult time for us at the Tata Group. We are all deeply saddened. This is an unimaginable tragedy that has resulted in so many losses of lives. Words can be of no consolation right now,' Mistry, a finance industry veteran, said.
'Our thoughts are with the families and loved ones of the people who have lost their lives. Tata Group stands in solidarity with the affected people in these challenging times,' he added.
The TCS board paid a tribute to all the victims of the crash by observing a minute's silence before beginning the proceedings of the meeting.
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