India, Aug. 12 -- N Chandrasekaran on Wednesday said he is stepping down and will not seek reappointment at the end of his term in February next year. The development came ahead of the company's annual general meeting on August 18.

In a statement, Chandrasekaran said, "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."

Chandrasekaran's current term will end on February 20, 2027. He said he would not seek reappointment after his term ends.

"I have decided not to offer myself for reappointment when my term ends on February 20, 2027," he said.

His decision comes amid tensions with shareholders and differences between Chandr...