N. Chandrasekaran reappointed Tata Sons chairman despite Noel Tata objections
Business
Tata Sons just reappointed N. Chandrasekaran as chairman for another five years, but Tata Trusts Chairman Noel Tata is not on board.
He is questioning whether the move was even legal, since Tata Trusts owns most of Tata Sons and feels big decisions like this should go through it first.
Tata Trusts's 66% stake sparks standoff
Tata Sons's board says it runs things independently, but Tata Trusts, holding 66% of shares, sees itself as the main influencer.
This difference has sparked a major standoff, especially after a key September meeting where Chandrasekaran was convinced to stay on.
The debate might even head to court if both sides cannot agree on who gets the final say in leadership choices.