Tata Motors on Tuesday said its shareholders have approved re-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 to be independent directors upon completion of their terms.
Shareholders approved the re-appointment of Chandrasekaran with 98.65 per cent votes. Addressing shareholders at the annual general meeting on Tuesday, Chandrasekaran said the company is looking for partnerships for Jaguar Land Rover to lessen the financial burden.
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 said that 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.