India, Sept. 17 -- The board of directors of Tata Sons has given N Chandrasekaran a five-year extension as executive chairman, which goes against his previous stance that he would not be seeking a renewal of his term once his present term expires in February 2027. The board decision, made in the board meeting of September 17, is reported by sources close to the developments.

Not everyone in the board supported the plan. Noel Tata, the chairman of Tata Trusts, and a Tata Sons board member, voted against the reappointment of Chandrasekaran as chairman, while another nominee of the Tata Trusts, Venu Srinivasan, voted in favor of the plan, according to the source. Nonetheless, the board approved the plan for a five-year extension.

What Happ...