India, Aug. 12 -- Tata Sons Chairman N. Chandrasekaran said Wednesday that he will not seek reappointment when his current term ends in February 2027.
N Chandrasekaran, in a released statement, said, "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."
Chandrasekaran said the decision followed the board's inability to reach a resolution on a proposed five-year extension. He said the extension was recommended by the Sir Dorabji Tata Trust and Sir Ratan Tata Trust and subsequently backed by the Tata Sons Nomination and Remuneration Committee and board. However, one direct...