A three-member committee, led by Ratan Tata, looked at many people over the past several months and has finally narrowed it down on Srinath
Srinath is expected to be appointed to his new role in early 2020, the paper quoted sources as saying. Unlike Venkataramanan, who held the post of Managing Trustee, Srinath would be offered CEO's position, they added.
Moneycontrol could not independently verify the report.
Creation of the new post is significant as Venkataramanan stepped down as Trustee from India's largest public charitable organisation in March after trouble with the Income Tax Department over his high compensation.
The 57-year-old Srinath was narrowed down as the top choice by a three-member committee, headed by Ratan Tata, formed by the foundation to select Venkataraman's replacement, sources added.
As per I-T authorities, the steep salary, running into crores, was not in line with Tata Trusts’ deed. The deed of Sir Dorabji Tata Trust (one among the wider organisation) specifies that a trustee is paid Rs 1,000.
A spokesperson from Tata Trust declined to comment.Once an executive assistant to Tata, Srinath joined the Tata Group in 1986. Besides his post at Tata Teleservices, he also holds board position in Tata Communications.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.