‘One of the board members did not support…’: Tata Sons Chairman N Chandrasekaran steps down ahead of AGM; full text of statement

N Chandrasekaran steps down: N Chandrasekaran stepped down from his role as Tata Sons Chairman on Wednesday. This decision came ahead of the Annual General Meeting, scheduled for August 18, and months ahead of the expiry of his tenure on February 20, 2027.

In a statement, he said his reappointment which was unanimously resolved and recommended was tabled on February 24 but was not carried because one of the board members was not in favour. He did not name the board member.

In the six months since, no decision was made on his reappointment, said Chandrasekaran, who then decided to not offer himself for reappointment. He said he has informed the board and also asked them to decide on the succession for a proper transition.

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Read the full text of N Chandrasekaran’s statement:

I have completed 40 years of professional life at the Tata Group. I am grateful for the immensely satisfying opportunity to contribute to this venerable institution. Leading Tata Sons over the past decade has been a great honour and a profound responsibility.

My current tenure as the Chairman of Tata Sons comes to an end on Feb 20, 2027. Sir Dorabji Tata Trust and Sir Ratan Tata Trust had unanimously resolved and recommended the extension of my next term for a period of five years, which was recorded and recommended by the Tata Sons Nomination and Remuneration Committee and the Board. Subsequently, the resolution was tabled in the Tata Sons Board on Feb 24, 2026. However, the proposal was not carried through because one of the Board Members did not support it, and in the absence of unanimous support, I chose to defer the decision.

It has been 6 months since that Board meeting, and no resolution has been reached till date. Tata Sons is a very large institution and there are many strategic projects that are under critical stages of execution, it is not only necessary to have a leader in place to lead the Group beyond Feb 2027, but also clarity on leadership is important for employees, investors, partners and other stakeholders.

Under these circumstances, earlier today. I have communicated to the Tata Sons Board that I have decided not to offer myself for reappointment when my term ends on Feb 20 2027. I have asked the Board to decide on the succession soon to ensure a proper transition.

I am grateful for the support of all stakeholders.

With warm regards,
Chandra