Tata Trusts Plans Panel to Select Tata Sons Chief

Current chairman N. Chandrasekaran :File Photo

Reports suggest next chairman is likely to be Tata insider

Mumbai: The process to appoint a new Tata Sons chairman has been set in motion, with Tata Trusts passing a resolution to initiate the setting up of a selection committee. The committee will recommend a person for appointment as the new chairman of the Board of Directors of Tata Sons, according to a statement issued by Tata Trusts.

Current chairman N. Chandrasekaran on Wednesday conveyed to the Tata Sons board his decision not to seek reappointment after his second term expires on February 20, 2027, marking the end of his 10-year tenure as chairman of Tata Sons, which controls Tata Group companies.

“The Trustees of the Sir Dorabji Tata Trust have passed a resolution to initiate the setting up of a selection committee as soon as possible in accordance with the Articles of Association of Tata Sons, for the purpose of recommending a person for appointment as the new Chairman of the Board of Directors,” said Tata Trusts. “We extend our full support to Tata Sons in ensuring a smooth, timely and orderly transition of leadership, consistent with the values and long-term interests ofTata Sons and the Tata group,” Tata Trusts added.

It also acknowledged Chandrasekaran’s contribution during his tenure as chairman ofTata Sons. “We place on record our deepest appreciation for his contribution and stewardship of Tata Sons and the Tata group over the past decade. We thank him for his immense contribution during a period of significant change, growth and transformation across the Group,” Tata Trusts said. Meanwhile, shares of Tata Group’s listed companies recovered from the sharp fall they experienced on Wednesday following Chandrasekaran’s decision not to seek reappointment for another term.

The gainers included Tata Motors (3.94 per cent), TCS (0.99 per cent), Tata Consumer (2.74 per cent), Tata Motors Passenger Vehicle (1.68 per cent), Tata Elxsi (1.36 per cent), Tata Communications (1.28 per cent), Tata Technologies (3.26 per cent), Trent (1.08 per cent), Tata Power (0.53 per cent), Indian Hotels Company (0.42 per cent) and Voltas (0.25 per cent). The losers included Titan (-1.08 per cent), Tata Steel (-0.30 per cent) and Tata Chemicals (-0.13 per cent).

TCS announced a strategic partnership with Vodafone Business, the enterprise arm of VodafoneThree, the United Kingdom’s largest mobile operator.

“TCS will help Vodafone Business further strengthen its ability to support UK organisations with secure, resilient, and scalable digital foundations for growth and modernisation,” TCS said.

Meanwhile, a few reports suggested that the next Tata Sons chairman is likely to be an insider. TV Narendran, 61, managing director of Tata Steel, is among the names being considered as a possible successor