Tata Sons Chairman N Chandrasekaran on Wednesday said he will not seek reappointment when his current term ends on February 20, 2027. <\/p>\n
The holding company of the $180-billion conglomerate is scheduled to hold its annual general meeting on August 18, amid uncertainty over the Trusts nominating their third board member. The member was under regulatory curbs, effectively making Chandrasekaran’s reappointment as a director impossible, as all appointments have to be unanimous under the company’s by-laws. <\/p>\n
In a public statement on Wednesday, Chandrasekaran said, \u201cSince my reappointment was not carried forward even after six months, as one board member was opposed to the proposal, I have decided not to offer myself for reappointment when my term ends on February 20, 2027. I have asked the Tata Sons board to decide on the successor chairman today morning.\u201d <\/p>\n
Explaining the rationale for his decision, the statement said the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust had unanimously resolved and recommended extending his term by five years. The proposal was subsequently recorded and recommended by the Tata Sons Nomination and Remuneration Committee and the board. It was then tabled before the Tata Sons board on February 24, 2026. <\/p>\n
\u201cHowever, the proposal was not carried through because one of the board members, Noel Tata, the chairman of the Tata Trusts, did not support it. In the absence of unanimous support, I chose to defer the decision. It has now been six months since that board meeting, and no resolution has been reached to date,\u201d he said. <\/p>\n
Noting that Tata Sons is a very large institution with several strategic projects at critical stages of execution, he said it was necessary not only to have a leader in place to lead the group beyond February 2027, but also to provide clarity on leadership for employees, investors, partners and other stakeholders. <\/p>\n
Chandrasekaran, who has spent 40 years with the Tata Group, became chairman of Tata Sons in 2017 after previously serving as chief executive of Tata Consultancy Services (TCS). <\/p>\n
He joined TCS as a trainee after completing his BTech from the Regional Engineering College, Trichy. Chandrasekaran was personally roped in as chairman by the late Ratan Tata after the group removed Cyrus Mistry in October 2016 following a boardroom coup. At the time, Chandrasekaran was chief executive of the group’s crown jewel, TCS, which grew into what it is today under his leadership. <\/p>\n
His chairmanship of Tata Sons saw the group treble its profits and revenue while also entering several areas of strategic importance. <\/p>\n
In his statement, Chandrasekaran thanked the Tata Group for offering him an \u201cimmensely satisfying opportunity to contribute to this venerable institution\u201d. <\/p>\n
\u201cLeading Tata Sons over the past decade has been a great honour and a profound responsibility,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Tata Sons Chairman N Chandrasekaran on Wednesday said he will not seek reappointment when his current term ends on February 20, 2027. The holding company of the $180-billion conglomerate is scheduled to hold its annual general meeting on August 18, amid uncertainty over the Trusts nominating their third board member. The member was under regulatory curbs, effectively making Chandrasekaran’s reappointment as a director impossible, as all appointments have to be unanimous under the company’s by-laws. In a public statement on Wednesday, Chandrasekaran said, \u201cSince my reappointment was not carried forward even after six months, as one board member was opposed […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-1028417","post","type-post","status-publish","format-standard","hentry","category-it-2"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/1028417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=1028417"}],"version-history":[{"count":1,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/1028417\/revisions"}],"predecessor-version":[{"id":1028429,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/1028417\/revisions\/1028429"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=1028417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=1028417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=1028417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}