Chandrasekaran reappointment: Tata Trusts rejects independent director vote claim
New Delhi, Sept. 20 -- Tata Trusts has reiterated its stance that the reappointment of N Chandrasekaran as the Chairman of Tata Sons, which was appoved by the latter's board on 17 September, was invalid since the required support of Tata Trusts' nominee directors was not secured.
As per Tata Trusts, the Articles of Association (AoA) of Tata Sons says that a majority of the directors nominated by the trust has to approve the appointment or re-appointment of the chairperson. This is because Tata Trusts owns 66% of the conglomerate. Since there are two nominees of Tata Trusts on the board of Tata Sons, both of them would have to support the resolution in order for the same to be considered passed.
Since one of the two nominees voted agains...
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