Tata Sons board again raises Chandrasekaran's reappointment issue; know the hurdles and next meeting's agenda
मुख्य बातें
- •Tata Sons board deferred a decision on Chandrasekaran's third term in the May 26 meeting.
- •Noel Tata said several key issues remain unresolved and require further discussion.
- •Performance of units like Air India and BigBasket, along with governance concerns, took center stage.
- •Tata Trusts hold a 66% stake in Tata Sons, while the SP Group holds 18%.
The Tata Group has been abuzz with leadership and strategic shifts over the past few months. In a special board meeting held on May 26, the issue of Chairman N. Chandrasekaran's third term came up, but it was deferred. Board members had informally asked whether Chandrasekaran could be reappointed for a third term. On this, Noel Tata, Chairman of Tata Trusts, clarified that it would be premature to make this decision yet. He stated that several key issues remain unresolved and require further discussion. This could lead to a stalemate between Chandrasekaran and Tata Trusts.
Noel Tata told the board that Chandrasekaran had been asked to provide a five-year strategic roadmap for the Tata Group, along with a framework to explore options for exiting the Shapoorji Pallonji (SP) Group without Tata Sons having to make public disclosures. Additionally, he stressed the need for a formal stance on the long-standing listing-related issues. Apart from these, questions have been raised about governance matters in Tata Trusts and the holding company. Concerns were also expressed about the performance of units like Air India and BigBasket.
