Natarajan Chandrasekaran's announcement that he will step down as Tata Sons chairman at the end of his term has sparked speculation over who will get the baton.
Chandrasekaran's term is scheduled to end in February. On Thursday, Tata Trusts said the trustees of Sir Dorabji Tata Trust – a group of charities that wields indirect control of the Tata Group – have passed a resolution to set up a selection committee to recommend a new chairman for Tata Sons.
As the Trust begins the process of finding a successor to lead the diversified conglomerate's holding company, several big names have been doing the rounds.
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Noel Tata
Late industrialist and former Tata Sons chairman Ratan Tata's half-brother Noel Tata is one of the serious contenders, according to The Hindu Businessline. His chances shouldn't be discounted, especially given the central role the Trusts play in the group's governance.
"Noel Tata should not be ruled out for a larger role on grounds of experience, pointing to similar doubts surrounding Ratan Tata when JRD Tata was choosing his successor," former Tata Sons senior executive Mukund Rajan was quoted as saying by the website.
{{/usCountry}}"Noel Tata should not be ruled out for a larger role on grounds of experience, pointing to similar doubts surrounding Ratan Tata when JRD Tata was choosing his successor," former Tata Sons senior executive Mukund Rajan was quoted as saying by the website.
{{/usCountry}}Long overshadowed by Ratan Tata, the public face of the conglomerate for decades, Noel, 68, rose through less prominent corners of the business, building credentials in retail and trading rather than the group's flagship companies. Noel spent years serving on boards across the group. Unlike Ratan Tata, Noel largely shunned publicity. He emerged as a central figure only after Ratan's death in October 2024, Reuters reported.
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Trustees unanimously appointed him as chairman of Tata Trusts and he subsequently joined the Tata Sons board as a non-executive director.
TV Narendran
Tata Steel Limited chief executive officer and managing director TV Narendran is being considered as a lead contender and possible successor to Chandrasekaran, according to a report by The Times of India.
He is a Tata veteran who joined the group in 1988. Narendran has spent his entire career in the company, and has led it for years. He has over 37 years of experience in the mining and metals industry, according to the Tata Steel website. He is currently on the boards of Tata Steel Limited and Tata International Limited and he is the chairman of Tata Steel Europe.
A person close to Tata Trusts chairman Noel Tata said Narendran "could be part of Noel's inner team", The Times of India reported.
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Saurabh Agrawal
Tata Sons Private Limited (Tata Sons) chief financial officer Saurabh Agrawal could also be in the race to replace Chandrasekaran as Tata Sons chairman, Business Standard reported. The company is the holding firm of the Tata group of companies. He joined Tata Sons in June 2017.
Agrawal is on the boards of Tata Steel, Voltas and Tata Digital. He chairs the boards of Tata Capital, Tata Play, Tata AIA Life Insurance, Tata AIG General Insurance, Tata Power Renewable Energy Limited, Tata 1mg and Big Basket, according to information available on the Tata Power website.
In a career spanning over 30 years, he has served as head of investment banking in India for Bank of America Merrill Lynch, head of corporate finance for India and South Asia at Standard Chartered Bank, and head of strategy at the Aditya Birla Group.
Also read | ‘Respect his decision’: Tata Trusts on Chandrasekaran’s call to step down
Shailesh Chandra
According to the Business Standard, Tata Motors' Passenger Vehicles Limited and Tata Passenger Electric Motor Limited's chief executive officer and managing director Shailesh Chandra may also be considered for the top post.
Information available on the company's website says Chandra joined Tata Motors in 1995 as a production manager and steadily rose through the ranks, taking on pivotal roles across multiple functions, including a stint at the Group Strategy Office of Tata Sons between 2013 and 2016.
He spearheaded corporate strategy and business transformation, laying the foundation for future readiness and operational excellence.
P Venkatesalu
Trent CEO P Venkatesalu, who is close to Noel, is likely to find his name in the list of contenders, The Hindu Businessline reported.
Information available on the company's website says he joined Trent in 2008 and has been with the company since then. Prior to Trent, he was associated with Tata Administrative Services since 2001 and was formerly with Tata Sons Limited as a part of the Group Finance team.
Harish Bhat
Tata veteran Harish Bhat, who is the brand custodian at Tata Sons, is also among the contenders, The Hindu Businessline reported. He joined the Tata Group in 1987, as an officer in the Tata Administrative Service (TAS).
Currently, he is the chairman of Tata Coffee Limited, according to the company's website. He is a director on the boards of several other Tata companies, including Trent, Tata Starbucks, Infiniti Retail, and Tata AIA Life Insurance.