India's Tata Sons Chairman Chandrasekaran may step down ahead of shareholder meeting, ET reports
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…
According to the Economic Times, Tata Sons Chairman N Chandrasekaran may resign ahead of the upcoming shareholder meeting on August 18. The report, citing sources familiar with the matter, suggests discussions have taken place regarding his potential departure. The uncertainty revolves around his reappointment as a director and his strained relationship with the head of Tata Sons' charity arm, Tata Trusts.
Shareholders are scheduled to vote on Chandrasekaran's reappointment as a director at the annual general meeting, as per a company notice. His current chairmanship term ends in February 2027. However, Reuters could not independently verify the report. Tata Sons, the investment holding company of the $400-billion Tata Group, did not comment on the speculation.
Chandrasekaran's tenure as chairman began in 2017, after he transitioned from CEO of TCS in 2009. He has encountered various challenges, including regulatory scrutiny over Air India following a fatal crash, pricing pressures at TCS, and a cyberattack at Jaguar Land Rover that disrupted production and impacted Britain's economy.
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