The Tata Sons board will meet on Thursday with a clear split on the table— Noel Tata, representing majority shareholder Tata Trusts, against chairman N. Chandrasekaran and the board—over averting a public listing and reassessing the holding company chair’s tenure.
The meeting will have several firsts. It will be the first after Chandrasekaran decided not to seek a new term when his current one ends on 20 February. It will also be less than a week after the Reserve Bank of India ordered the holding company of India’s largest group to list on the stock market.
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N Chandrasekaran's reappointment
Tata, who has been outspoken in recent board meetings, is expected to share the Trusts’ views as he did on 24 February when he objected to Chandrasekaran’s reappointment, according to two executives familiar with the situation. He may oppose any proposal to consider another term for Chandrasekaran, just as he did at the last Tata Sons board meeting on 24 February, a senior Tata Group executive said.
When Mint asked Tata Trusts for a response on the possibility of an extension for Chandrasekaran, a spokesperson was unequivocal: “Please note that there is no change in the stand taken by SDTT (Sir Dorabji Tata Trust) in its board meeting held on 13th August 2026, respecting the decision of Mr Chandrasekaran to not offer himself for reappointment and seeking initiation of steps for appointment of a new chairman, as communicated by the SDTT to the company secretary, Tata Sons on the same day”.
{{/usCountry}}When Mint asked Tata Trusts for a response on the possibility of an extension for Chandrasekaran, a spokesperson was unequivocal: “Please note that there is no change in the stand taken by SDTT (Sir Dorabji Tata Trust) in its board meeting held on 13th August 2026, respecting the decision of Mr Chandrasekaran to not offer himself for reappointment and seeking initiation of steps for appointment of a new chairman, as communicated by the SDTT to the company secretary, Tata Sons on the same day”.
{{/usCountry}}“This decision of SDTT was also supported by all the other shareholding Trusts which met subsequently on that day. As far as the Trusts are concerned, the chairman, Tata Sons, has conveyed his decision to the board and the public at large, and this has been accepted and acted upon by the majority shareholders.”
Split in Tata Sons board
What could complicate matters is the position of Venu Srinivasan, Trusts’ nominee on Tata Sons board, who has publicly supported listing Tata Sons. According to the executive cited earlier, Srinivasan, a member of Tata Sons Nomination and Remuneration Panel (NRC), also favours a third term of at least two more years for Chandrasekaran. Harish Manwani heads the four-member NRC, which includes Chandrasekaran, Srinivasan and independent director Anita Marangoly George.
An email sent to Tata Sons seeking comment went unanswered.
The six Tata Sons directors were unaware of Chandrasekaran’s exit plan until late; the chairman briefed the board just half an hour before mailing in his one-page bombshell and releasing it to the media, the executive cited above said.
“Since then, the Tata Sons board has not had any meeting to decide on who will take over. Now, after the RBI order asking Tata Sons to follow the rules, some board members want the chairman to continue because they say things have changed,” said the executive.
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The disagreements at the House of Tata show the growing split between trustees at Tata Trusts, which owns 65.9% of Tata Sons. It has unfolded slowly over the last two years since Noel became chairman of the charitable groups on 11 October, 2024, two days after the death of his half-brother, Ratan Tata, on 9 October.
The split in Tata widened in February, when Noel opposed giving Chandrasekaran a third, five-year term, which was okayed by Tata Trusts just a few months earlier.