Bain Capital’s Amit Chandra joins Tata Sons board
Within days of two top industrialists joining the Tata Sons board, the Tata Group announced the appointment of Amit Chandra, managing director of Bain Capital, on the Tata Sons board as a non-executive director with effect from Friday.
Ajay Piramal, chairman of Piramal Group, and Venu Srinivasan, chairman of TVS Group, were inducted on the Tata Sons board on Thursday.
In a statement, Tata Sons said that Chandra joined Bain Capital as managing director in early 2008 and was part of the firm’s leadership team in Asia.
The induction of new directors shows the companies initiatives to get fresh faces on the board of the $103-billion revenue group’s holding company. The group is facing multiple challenges in terms of Tata Steel’s loss-making European operations and an expensive legal battle with Japanese company NTT Docomo’s exit from Tata Teleservices.
Chandra also serves as a Trustee on several Tata Trusts. With Amit Chandra’s appointment, the Tata Sons Board now has nine directors.
“Given the rich legacy of the Tata Group, in service of the nation, it’s indeed a privilege to represent the Tata Trusts and serve on the board of Tata Sons” said Amit Chandra.