Chandrasekaran steps down as Tata Sons chairman amid boardroom tussle; stocks tumble

N Chandrasekaran has stepped down as chairman of Tata Sons ahead of the company’s Annual General Meeting scheduled for August 18. Although his current term runs until February 20, 2027, Chandrasekaran said he will not seek reappointment and has asked the board to begin the succession process to ensure a smooth transition. In a statement, Chandrasekaran said he had completed 40 years with the Tata Group and described leading Tata Sons for the past decade as a “great honour and a profound responsibility”. His decision comes amid reported differences with Tata Trusts chairman Noel Tata and tensions with shareholders over his proposed reappointment.