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TCS veteran N . Ganapathy Subramaniam takes chairman’s position at Tata Communications
MUMBAI: Tata Communications has handed the keys to its chairman’s office to N. Ganapathy Subramaniam, the tech wizard who spent four decades cutting code and climbing ladders at Tata Consultancy Services.
The appointment, which took immediate effect today, adds another feather to NGS’s already well-plumed cap, as the seasoned executive continues his post-retirement tour of Tata boardrooms.
Having hung up his boots as chief operating officer and executive director at TCS last May, the Bangalore-based tech veteran is chairman at Tata Elxsi and Tejas Networks, making this latest appointment something of a hat-trick for the self-described “software engineer at heart.”
Subramaniam’s elevation comes as Tata Communications—formerly the state-owned behemoth VSNL—continues its transformation from stodgy telecom operator to nimble digital services provider. With revenues nudging Rs 17,000 crore, the company has been aggressively courting enterprise clients with cloud and IoT offerings that bear little resemblance to its public sector ancestor.
The company informed the bourses of the appointment through a regulatory filing.
For NGS, whose four-decade tech odyssey has seen him shepherd TCS through banking, telecom and public service transformations worldwide, the new role adds to an already bulging portfolio of responsibilities.
Beyond his corporate entanglements, he chairs the governing council of Bharat6G Alliance and serves on the institute body at Sree Chitra Tirunal Institute for Medical Sciences and Technology. To ease off from all his hectic engagements, NGS enjoys nature walks around his Bangalore home.
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Bill Ackman’s Pershing Square makes $64 billion bid to acquire Universal Music Group
Ackman pitches NYSE relisting plan as UMG board weighs unsolicited offer
The hedge fund has proposed a business combination that values UMG at €30.40 per share, representing a hefty 78 per cent premium to its current trading price. The offer includes €9.4 billion in cash alongside stock in a newly formed entity, with shareholders set to receive €5.05 per share in cash and 0.77 shares in the new company for each UMG share they hold.
Under the proposal, UMG would merge with Pershing Square SPARC Holdings Ltd and re-emerge as a Nevada-based entity listed on the New York Stock Exchange. The move is designed to boost investor visibility and potentially secure inclusion in major indices such as the S&P 500.
Pershing Square Capital Management ceo Bill Ackman argued that while UMG’s operational performance remains strong, its market valuation has lagged due to external factors. “UMG’s stock price has languished due to a combination of issues that are unrelated to the performance of its music business,” Ackman said, pointing to concerns ranging from shareholder overhang to delayed US listing plans.
Ackman also flagged what he sees as untapped potential in UMG’s balance sheet and a lack of clear capital allocation strategy. He added that the market has not fully recognised the value of UMG’s €2.7 billion stake in Spotify, alongside gaps in investor communication.
The proposed transaction would also result in the cancellation of around 17 per cent of UMG’s outstanding shares, while maintaining its investment-grade balance sheet. Pershing Square has said it will fully backstop the equity financing, with debt commitments secured at signing. The deal is targeted for completion by the end of the year.
UMG, however, has struck a measured tone. The company confirmed that its board has received the non-binding proposal and will review it with advisers. It reiterated confidence in its current strategy and leadership under Lucian Grainge, signalling no immediate shift in stance.
The proposal comes at a time when global music companies are navigating evolving investor expectations, streaming economics and capital allocation pressures. For Pershing Square, the bet is clear: sharpen the financial story, relist in the US, and let the music play louder in the markets.
Whether UMG’s board is ready to change the tune remains to be seen, but the spotlight on its valuation just got a lot brighter.
