India's Tata Sons Chairman Chandrasekaran may step down ahead of shareholder meeting, ET reports
- Tata Sons shareholders are set to vote on Chandrasekaran's reappointment as a director at the August 18 annual general meeting, according to a company notice
Tata Sons Chairman N Chandrasekaran is reportedly considering stepping down amid uncertainty over his reappointment and ongoing tensions with the group's charity arm.
- N Chandrasekaran's potential resignation from Tata Sons.
- Uncertainty over his reappointment as a director.
- Tensions between Tata Sons and the Tata Trusts.
Tata Sons Chairman N Chandrasekaran has discussed with close associates the possibility of stepping down before a shareholder meeting on August 18, the Economic Times reported on Wednesday, citing people familiar with the matter.
The discussions come amid uncertainty over his reappointment as a director and tensions with the head of the group’s charity arm, the report said.
Tata Sons shareholders are set to vote on Chandrasekaran’s reappointment as a director at the August 18 annual general meeting, according to a company notice.
Chandrasekaran’s current term as chairman runs until February 2027.
Reuters could not immediately verify the report. Tata Sons, the principal investment holding company of the $400-billion Tata Group, did not immediately respond to a request for comment outside regular business hours, while Chandrasekaran could not be reached.
Tata Sons in February postponed a decision on reappointing Chandrasekaran as chairman after Noel Tata, chairman of the group’s charity arm Tata Trusts, opposed the move, Reuters previously reported.
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Tata Sons and Tata Trusts have clashed over board representation, strategy and how to handle the planned exit of minority shareholder Shapoorji Pallonji, a dispute that led to the ouster of a Tata Sons director.
Tata Trusts owns about 66% of Tata Sons, the holding company of the salt-to-software group that houses 30 companies including Tata Consultancy Services, Tata Motors and Air India.
Chandrasekaran joined the Tata group in 1987 and rose to become TCS CEO in 2009 before taking over as Tata Sons chair in 2017.
Over the past year, he has faced challenges, including intense regulatory scrutiny over Air India after a fatal crash, pricing pressure at TCS, and a cyberattack at Jaguar Land Rover that disrupted production and hit Britain’s economic output.
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