Key facts
- Tata Sons Chairman N. Chandrasekaran has resigned.
- He will complete his current term, which runs until February.
- Opposition to his reappointment came from Tata Trusts Chairman Noel Tata.
- Disagreements reportedly centered on listing commitments and board representation.
- Chandrasekaran has been with the Tata group since 1987.
Tata Sons Chairman N. Chandrasekaran has resigned but will complete his current term, a source with direct knowledge of the matter told Reuters. His term is set to conclude in February.
Chandrasekaran's potential reappointment faced opposition earlier this year from Noel Tata, chairman of Tata Trusts, which owns 66% of Tata Sons. Reuters previously reported that Noel Tata sought conditions, including a commitment that Tata Sons would never be listed, a condition Chandrasekaran was reportedly unwilling to meet. Clashes over board representation were also cited.
Tata Sons, which controls over 30 companies in the conglomerate including Tata Consultancy Services, Tata Motors, and Air India, did not immediately respond to a request for comment. Chandrasekaran was unavailable for comment.
Chandrasekaran joined the Tata group in 1987, served as CEO of TCS from 2009, and took over as Tata Sons chairman in 2017. The conglomerate has recently navigated regulatory scrutiny of Air India, pricing pressures at TCS, and a cyberattack at Jaguar Land Rover.
Past disputes between Tata Sons and Tata Trusts have impacted the conglomerate, notably in 2016 when then-chairman Cyrus Mistry was removed following disagreements with Ratan Tata over corporate governance, leading to a prolonged legal battle.