Jamie Dimon backs Chandrasekaran as Tata governance fight deepens
What's the story
JPMorgan Chase & Co. CEO Jamie Dimon has expressed his support for Tata Sons Chairman Natarajan Chandrasekaran amid the ongoing governance conflict at one of India's oldest conglomerates. In an interview with Economic Times, Dimon said, "I would never want to lose him (Chandrasekaran), adding that Tata Trusts or the board should share the same sentiment.
Investor concerns
Conflict could deter foreign investment: Dimon
Dimon also warned that the ongoing governance conflict could hurt foreign investor confidence.
He said, "If I were the government, I would be concerned that this kind of conflict could deter foreign investment."
His comments come as Tata Sons' board defies its controlling shareholder Tata Trusts on two proposals: to take the firm public and extend Chandrasekaran's term by five years.
Governance principles
'Public transparency is a good thing'
Dimon stressed the importance of public transparency and consistent governance standards in attracting global capital.
He said, "I think public transparency is a good thing," but admitted that the situation is complex and he doesn't know all the details.