India’s Tata Sons board approves fresh five-year term for Chairman Chandrasekaran, source says
Chandrasekaran, whose term ends in February 2027, said in August he would not seek another term.
India's Tata Sons board has extended the five-year term of N. Chandrasekaran, the company's executive chairman, according to a source familiar with the situation. The decision was announced on September 17, reversing Chandrasekaran's earlier announcement in August that he would not seek another term. The reversal came days after the Reserve Bank of India declined Tata Sons' request for an exemption from listing rules.
The reasons behind Chandrasekaran's change of heart were not disclosed by the source, who declined to be named as they are not authorized to speak to the media. Chandrasekaran's current term is set to expire in February 2027. In August, he had stated that he would not seek reappointment, a decision that followed months of disagreements between him and Tata Trusts, the charitable trusts that hold a 66% stake in Tata Sons. These disputes centered around the group's strategy and governance.
Chandrasekaran took on the role of Tata Sons chairman in 2017 and received a second five-year term in 2022.
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