Mumbai, The Board of Tata Sons on Friday approved the reappointment of N. Chandrasekaran as the Executive Chairman for the next five years.

The decision took place during a board meeting held on Friday.

Accordingly, the Board reviewed the last five years' performance of the group and considered the reappointment of Chandrasekaran.

In a statement, Tata Sons said that Ratan N. Tata, who was a special invitee to this meeting, expressed his satisfaction on the progress and performance of the Tata Group under the leadership of Chandrasekaran.

"He recommended his term be renewed for a further five-year period," the statement said.

"The Board members commended the performance of the Executive Chairman and unanimously approved the reappointment of Mr. N Chandrasekaran as the Executive Chairman for the next five years."

Tata Sons is the principal investment holding company and promoter of Tata companies.

In 2020-21, the revenue of Tata companies, taken together, was $103 billion

These companies collectively employ over 8,00,000 people.

At present, there are 29 publicly-listed Tata enterprises with a combined market capitalisation of $314 billion as on December 31, 2021.