Tata Sons reappoints N Chandrasekaran as chairman for 5 years; Noel Tata calls it ‘illegal’
The board of Tata Sons on Thursday granted a five-year extension to N Chandrasekaran as executive chairman, despite opposition from Noel Tata. The board also decided to proceed with the listing of the Tata Group’s holding company in accordance with the Reserve Bank of India (RBI) directive, according to a source privy to the matter.
The source said the resolutions will now require approval at the annual general meeting (AGM) of Tata Sons. Venu Srinivasan and Noel Tata, who represent Tata Trusts on the Tata Sons board, are key shareholders involved in the process.
