Kapadia,Misra gain in Tata Group rejig

The two appointments thus indicate that the $83.6 billion group (over Rs 370,000 crore market cap as on August 12,2011) is looking to set up an executive team at various group companies and appears to fill the gaps that will be created after Ratan Tata and RK Krishna Kumar retire. Both Kapadia and Misra have been associated with the group for over two decades.

A source privy to the development confirmed the appointments. The companies,however,are yet to make a formal announcement.

Even as the group is in the process of setting up the executive teams at various group companies,it is still holding back the announcement of the group chairman who will take the reins from Ratan Tata in December 2012.

While Noel Tata — the half brother of Ratan Tata — is widely speculated to become the next chairman of the salt-to-software conglomerate,the announcement is much-awaited.

Kapadia,57,who has been working as the managing director of TajSATS will now takeover as the executive director on the board of Indian Hotels (market cap of Rs 5,175 crore as on Friday and revenue of Rs 1,673 crore in FY11). He will join the other two EDs — Anil Goel (director,finance) and Abhijit Mukerji (director,operations) — along with MD and CEO Raymond Bickson.

On the other hand,Misra,54,who has been working as the Sr. VP (sales and marketing) at Indian Hotels,has now been moved as the deputy CEO of Tata Global Beverages that has a market capitalisation of Rs 8,878 crore (as on Friday) and clocked a revenue of Rs 6,332 crore in the year ended march,2011. He will be working with Percy Siganporia,managing director of the company.