Tata Sons' board voted 4‑1 on Thursday to reappoint N Chandrasekaran as executive chairman for a further five years, a decision that overturned the chairman's own resignation announced a month earlier. Noel Tata, chair of Tata Trusts, cast the sole dissenting vote, while Harish Manwani, the independent director presiding over the meeting, broke the deadlock by casting the decisive approval. The resolution also saw Venu Srinivasan, Trusts vice‑chairman, vote in favour, underscoring the split among the conglomerate's principal shareholders.
Under Article 121A of Tata Sons' articles, a majority of nominee directors must back a chairman's reappointment. The vote exposed a rift between the Trusts' own nominees: Anita George and Saurabh Agrawal backed the move, whereas Noel Tata opposed it, leaving the Trusts to question the legality of the resolution.
In addition to the leadership decision, the board resolved to begin complying with RBI's upper‑layer NBFC rules, including a mandatory listing. It also said it would seek guidance from the Trusts and other stakeholders on the matter, signalling a move toward greater regulatory alignment.
The reappointment still requires shareholder approval at the next annual general meeting, where the Trusts plan to press ahead with identifying a successor and explore alternative leadership structures under Tata Sons' Articles of Association. The outcome of that vote will determine whether Chandrasekaran's five‑year tenure is upheld or overturned.