Tata chair Chandrasekaran to step down after tension with controlling charity arm

NEW DELHI: N Chandrasekaran, chairman of India's Tata Sons, announced on Aug 12 that he will not seek reappointment at the end of his term due to disagreements with the charity arm, Tata Trusts. This move comes amid mounting challenges for the 158-year-old conglomerate, which is facing losses at its Air India airline, declining sales for its Jaguar Land Rover business, and fallout from a data leak at its electronics arm affecting major clients like Apple and Tesla.

Conflicts have been ongoing between Chandrasekaran and Tata Trusts regarding issues such as listing the group, Air India's losses, the planned exit of a minority shareholder, and board representation. Tata Sons, which oversees over 30 companies, including TCS, Tata Motors, and Air India, has been navigating strategic projects and dealing with regulatory scrutiny.

The chairman, who joined the Tata Group in 1987 and became CEO in 2009, stated he would remain in his position until February. Tata Trusts did not provide a response to Reuters' request for comment.