The interests of Tata Sons and minority shareholders of Tata-promoted companies are fairly aligned, says Harish Bhat, Brand Custodian of Tata Sons in an interview.
Speaking of the underlying reason for the ouster of Cyrus Mistry, Bhat says when a Director is in position of open hostility, it creates dis-functionality and disruptions on the board. Loss of confidence, he adds, covers several factors beyond mere performance.
Bhat also clarifies that the Tata Group is not only about Tata Sons, which is the pioneer that grooms and supports other group companies, but also about Tata Trusts with philanthropic objectives and operating companies that are individual entities with their own competent boards. There is no interference of Tata Trusts in decisions made by the operating companies, he says.
While he refrains from making any specific comments on issues surrounding DoComo and Nano which are in news following allegations made by Mistry, he does talk about strategies for the growth of group companies.
Tata Group will be aggressive in investing in companies that need capital for profitable growth, he says.
He also goes on to talk about Tata Global Beverages, where he serves as Chairman of the board detailing strategies for increasing visibility of products like Tetley, Tata Tea and bottled water brand Himalayan.
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