Board delays decision on Natarajan Chandrasekaran’s third term after concerns raised over losses in new Tata Group ventures.
Tata Sons has deferred discussions regarding the reappointment of Executive Chairman Natarajan Chandrasekaran for a third term following a request made by him during a board meeting on Tuesday. According to a report by The Economic Times, the matter was postponed after concerns were raised by Noel Tata, Chairman of Tata Trusts, regarding losses in some of the group’s newer ventures.
Board members expressed support for Chandrasekaran’s continuation, noting that the reported losses were largely associated with greenfield investments and their longer gestation periods. The reappointment proposal will require a special resolution and an exemption from the company’s retirement policy, which sets 65 as the age limit for such roles.
Noel Tata is said to have proposed certain conditions, including maintaining Tata Sons as an unlisted entity, avoiding additional debt, restricting capital expenditure, and managing losses from acquisitions such as Air India and BigBasket. Chandrasekaran’s current term is scheduled to run until February 2027.
