How Noel Tata held his ground in board meet
Bengaluru/Mumbai, Sept. 18 -- Tata Trusts chairman Noel Tata stood firm at the Tata Sons board meeting but was outvoted by five directors led by chairman N. Chandrasekaran when the board decided to follow the Reserve Bank of India (RBI) order to list its shares on the stock exchanges and extend the chairman's term.
Expressing his disagreement, Noel Tata said the decision not to seek another term was the chairman's own choice, made freely, and had already been finalized after the main shareholder accepted it.
Noel Tata came with a two-page note to speak to a hostile and doubtful board of directors. Expecting disagreement and interruptions, he decided to submit his written statement to be included in the meeting records.
Noel Tata's main conc...
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