Chandrasekaran appointed director of Tata Motors

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Tata Motors on Tuesday said its shareholders have approved the appointment of N Chandrasekaran as a director on the company's board. He is chairman of Tata Motors.

In a regulatory filing, the company also said Nasser Munjee, Vinesh Kumar Jairath and Falguni Nayar have ceased as independent directors upon completion of their terms.

Shareholders approve the appointment of Chandrasekaran with 98.65 per cent votes.

Chandrasekaran while addressing shareholders at the AGM on Monday had said the company is looking for partnerships in China to lessen the financial burden on the group's bottom line.

He, however, said the automobile sector is such that a company cannot shut the cash tap as the very of this business demands continuous investment in product and technology development.

He also said, more than the final outcome of the Brexit, it's the continuing uncertainty that is hurting JLR in its home market of England and continental Europe, which is the largest source market for the millions of parts that JLR procures annually.

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