How Tata Sons will pick N Chandrasekaran's successor and who will choose him
The Trusts specifically acknowledged Chandrasekaran's contribution during a period of "significant change, growth and transformation" across the Tata group.
On Thursday, the Tata Trusts announced that they would begin the process of finding a successor to N Chandrasekaran, the chairman of Tata Sons, the holding company of the Tata group, as he announced he would not seek reappointment for a third term. The Sir Dorabji Tata Trust (SDTT), a key charitable trust within Tata Trusts, owns approximately two-thirds of Tata Sons and made the decision to set up a selection committee to recommend the next chairman.
Chandrasekaran, who has led Tata Sons since 2017, announced his decision on Wednesday, citing a lack of unanimity within the Tata Sons board over his continuation. The selection committee will be responsible for identifying and recommending a candidate, and the final appointment will be made in accordance with Tata Sons' governance framework.
The process is reminiscent of the one that followed Cyrus Mistry's removal as chairman in October 2016, when a five-member selection panel identified Natarajan Chandrasekaran as the next chairman. Noel Tata, who serves as chairman of the Tata Trusts, is also the chairman of the Sir Dorabji Tata Trust.
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