Tata Trusts Begin Search For N Chandrasekaran’s Successor As Tata Sons Chairman

The Tata Trusts on Thursday initiated the process of selecting a successor to N Chandrasekaran as chairman of Tata Sons after he decided not to seek reappointment for a third term, citing a lack of unanimity on the issue within the board.

The Sir Dorabji Tata Trust (SDTT), which is among the key Tata Trusts holding nearly two-thirds of Tata Sons, said it had passed a resolution to begin the process of setting up a selection committee.

Selection Committee To Recommend New Chairman

The Trust's trustees have resolved to establish a selection committee as soon as possible, in accordance with the Articles of Association of Tata Sons.

The committee will recommend a candidate for appointment as the new chairman of the Tata Sons board of directors.

The move follows Chandrasekaran's announcement on Wednesday that he would not offer himself for reappointment for a third term.

Tata Trusts Praise Chandrasekaran’s Leadership

The SDTT expressed its appreciation for Chandrasekaran's contribution and stewardship of Tata Sons and the wider Tata group over the past decade.

The Trust said his tenure had coincided with a period of "significant change, growth and transformation" across the conglomerate.

The Trusts also said they would support Tata Sons in ensuring a smooth, timely and orderly leadership transition in line with the group's values and long-term interests.

Noel Tata Heads Sir Dorabji Tata Trust

Noel Tata, who became chairman of the Tata Trusts following the death of his half-brother Ratan Tata, also heads the Sir Dorabji Tata Trust.

The Trusts' latest move formally sets the succession process in motion at Tata Sons, the holding company of the diversified Tata group.

Chandrasekaran had also stressed in his statement on Wednesday the need for clarity on the leadership issue at the earliest.