S Padmanabhan nominated as Tata Power chairman

Ltd has nominated as the chairman for Co Ltd with immediate effect using its rights according to the company’s articles of association, said on Wednesday.

 

In its statement to BSE , said in terms of the company’s article of association, Ltd, as the promoter of the company has the right to nominate the chairman of the company’s board “as long as the word ‘TATA’ is associated with the name of the company.

 

Padmanabhan at present serves as an additional director on the company’s board.

 

The company’s past chairman resigned for all of his board positions from various listed Tata Group companies on December 19. Following Mistry’s ouster as the chairman of on October 24, had proposed Mistry’s removal from Tata Power’s Board. The company also called for an extraordinary general meeting (EGM) on December 26 to seek shareholders approval for the removal.

 

However, with Mistry’s resignation on December 19, the planned was later called off.

 

Padmanabhan’s nomination to Tata Power’s board as chairman is the latest in a series of new appointments made by on various Tata group company boards. On November 10, appointed Ishaat Hussain as the interim chairman for Tata Consultancy Services Ltd. In a similar manner, was appointed as the chairman of Tata Global Beverages on November 16.

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