Ratan Tata chairs his last TCS AGM

At the 17th annual general meeting (AGM) of India's largest software exporter, Tata Consultancy Services (TCS), it was business as usual, with the focus being on future of the company and introduction of the new board members.

This is despite the fact that the AGM would be last one Ratan N Tata would be chairing in his official capacity, before he retires by the end of this year, handing over the reigns to successor Cyrus Mistry.

Tata also introduced the new members of TCS board, banker and former chairman of the State Bank of India (SBI) O P Bhatt and Cyrus Mistry.

''Mistry embraces all ethical values ingrained in the Tata Group," Tata said, adding, he was confident of Mistry's capability of leading the company to new heights. Mistry is also on the boards of Tata Power, Tata Industries and Tata Teleservices.

Ratan Tata also said that TCS is looking at opportunities in Australia and Middle East for growth as traditional markets in the West are in the midst of deep financial crisis.

"Our focus is to find a balance between traditional markets like the US and Europe and other emerging markets like Australia and the Middle East, which present good opportunities. Going forward, TCS will be focusing on non-linear growth since the situation in the West continues to be a concern," he added.