New Delhi, Aug 12 (PTI) Tata Sons Chairman N Chandrasekaran on Wednesday said he will not seek reappointment when his current term ends on February 20, 2027, ending months of uncertainty over the leadership of the Tata Group’s holding company.
Chandrasekaran said the Sir Dorabji Tata Trust and Sir Ratan Tata Trust – majority shareholders in Tata Sons – had unanimously recommended extending his term by five years, with the proposal subsequently recorded and recommended by the Tata Sons Nomination and Remuneration Committee and the Board.
The proposal was tabled at a Tata Sons Board meeting on February 24 but was not carried through after one Board member did not support it, Chandrasekaran said.
“In the absence of unanimous support, I chose to defer the decision,” he said in a statement.
Chandrasekaran said no resolution had been reached in the six months since that Board meeting, adding that clarity over leadership was important as Tata Sons oversees several strategic projects at critical stages.
“Under these circumstances, earlier today, I have communicated to the Tata Sons Board, that I have decided not to offer myself for reappointment when my term ends on Feb 20, 2027,” he said.
He asked the Board to decide on his successor soon to ensure a smooth transition.
Chandrasekaran, who has spent 40 years with the Tata Group, became chairman of Tata Sons in 2017 after previously serving as chief executive of Tata Consultancy Services.
The development comes amid reported differences between Tata Sons and Tata Trusts over Chandrasekaran’s reappointment.
Tata Sons, the principal holding company of the Tata Group, is majority-owned by Tata Trusts and controls more than 30 group companies, including Tata Consultancy Services, Tata Motors and Air India. PTI ANZ VHI DRR
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