Noel Tata halts Chandrasekaran reappointment over lack of 5-year plan
Business
Big changes might be coming to Tata Sons. At the latest board meeting, Noel Tata, Tata Trusts chairman, hit pause on reappointing N Chandrasekaran as chairman, pointing out some major concerns.
He flagged that the group still doesn't have a clear five-year growth plan and there's confusion about how the Shapoorji Pallonji Group can exit its stake without listing Tata Sons.
Shapoorji Pallonji awaits RBI listing ruling
The Shapoorji Pallonji Group, which owns 18% of Tata Sons, wants out but is waiting for RBI's decision on whether they need to list the company first. This uncertainty is making leadership decisions trickier.
Meanwhile, losses at Air India and BigBasket were discussed, with Noel urging action.
The board will meet again on June 12.