N Chandrasekaran resigns as Tata Sons chairman, will complete term: Report

Tata Sons Chairman N. Chandrasekaran has resigned, but will complete his current term at the principal holding company of India’s $400-billion Tata Group, a source with direct knowledge of the matter said.

The source declined to be identified due to the sensitivity of the issue. Chandrasekaran’s term is due to run until February.

Tata Sons controls more than 30 companies in the conglomerate, including Tata Consultancy Services (TCS) , Tata Motors and Air India, but is in turn 66% owned by Tata Trusts, the group’s charitable arm.