N Chandrasekaran, who is the new chairman of Tata Group after Cyrus Mistry recently attended his first general meeting of shareholders. In the meeting, Chandrasekaran was showered with epithets such as Hanuman. While Ratan Tata and his aide Ishaat Hussain were called as Bahubali and Katappa for their royal relationship of king and servant.
Some of the shareholders welcome with sweet gestures while some were quite rude with their words towards the new chairman of Tata Group.
One shareholder said, “We welcome you for a long inning. This is a eureka moment for Chandra. Bombay House is becoming Chennai house”. Another veteran shareholder justifies his sweet gestures and said “Ratan Tata has completed the mission successfully by hiring Chandra. You, pointing at Chandra, is colorful, informative and intelligent”.
While Irani, another veteran shareholder on ousting of Mistry said, “You forgot to thank your predecessor Cyrus Mistry who was kicked out in a wrong manner. Please have some moral courage”.
Besides these above mention comments, several other shareholders were also concerned about the possible job losses, increasing protectionism in the United States, increase in employee costs and absence of bonus shares for many years.
After listening bad and good comments from the shareholders Chandrasekaran said “The future world is a new technology era. History has shown that despite people fearing job losses technology has created more jobs and helped the economy grow”. He also added that “On the U.S. visas issue, nothing had changed on ground, we continue to recruit in every market… United States, United Kingdom, India”.
He also mentioned certain statistics in the meeting. He said TCS has offered jobs to close to 20,000 people this fiscal and has skilled 2,00,000 employees across 6,00,000 competencies.