Tata Sons reappoints N Chandrasekaran, Noel Tata calls it illegal
Tata Sons just reappointed N Chandrasekaran as executive chairman for another five years, but Noel Tata (chairman of Tata Trusts) is not happy about it.
The twist? Chandrasekaran had already said he would step down by February 2027.
Noel is calling the move "illegal" and says it messes with their plans for finding a new leader.
Noel Tata questions Chandrasekaran's directorship legality
Noel feels the board ignored Chandrasekaran's public decision not to seek another term and the Trusts's acceptance of it, which had already kicked off succession planning.
He also pointed out that since the general meeting at which that question falls to be determined had not been able to proceed for want of quorum, there are still questions about whether Chandrasekaran can legally stay on as director.
As Noel put it, sticking to proper procedures will be resolved by the Articles of Association and by the procedure they prescribe.