Statement from Tata Motors on Mr. R. Gopalakrishnan not seeking re-election to the Board of Directors
There have been reports that Mr. R. Gopalakrishnan, non-executive director on Tata Motors' Board of Directors, is "stepping down from the Board" due to "personal reasons".
- (1888PressRelease) August 06, 2010 - Tata Motors clarifies that Mr. Gopalakrishnan is not "stepping down", but not seeking re-election at the forthcoming annual general meeting of the company, when he retires by rotation.
Mr. Gopalakrishnan is not offering himself for re-election in order to enable the company to recast its Board to accommodate additional executive directors and retaining the requisite ratio of independent directors.
At present, the 13-member Tata Motors Board comprises 4 non-executive directors, 7 independent directors and two executive directors.
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