N Chandrasekaran has been elected as the Chairman of the board of directors of the company with effect from February 22, 2017 vide a written resolution of the Board.He was initially appointed as a Member of the board on January 27, 2017. Chandrasekaran had taken over as Chairman of Tata Sons on February 21, becoming the first non—Parsi Chairman of the USD 103 billion Tata Group after heading its crown jewel TCS for years.
Tata Group hospitality arm Indian Hotels Company Ltd stated N Chandrasekaran has been elected as the Chairman of its board of directors. In a brand restructuring exercise announced this month, IHCL grouped all its hotels in the current portfolio globally under a single branded house identity called Taj Hotels Palaces Resorts Safaris. IHCL stated that brands Vivanta by Taj and Gateway will merge under a single Taj brand identity and that each of the four groups: Taj Hotels, Taj Palaces, Taj Resorts and Taj Safaris, will have clearly defined experiences.
The company has been showing signs of a turnaround with CEO Rakesh Sarna at the helm. IHCL posted a jump in profits in its results for the quarter ended December. IHCL’s profit after tax for the quarter ended December 31, 2016 was Rs 92 crore compared to 58 crore for the corresponding quarter of the previous year. The company reported total income from operations of Rs 696 crore for the quarter ended December compared to Rs 663 crore for the corresponding quarter of the previous year.