The Tata Sons board met for almost three hours on Thursday, ultimately voting by a majority to re‑appoint N Chandrasekaran as executive chairman for a further five years, overturning his earlier announcement that he would step down when his current term ends on 20 February 2027.
The motion came after the Reserve Bank of India denied Tata Sons a waiver that would have allowed the company to stay out of a stock‑market listing, forcing the board to seek a new leadership solution.
Tata Trusts, which holds roughly 66% of Tata Sons’ shares, slammed the resolution, with chairman Noel Tata voting against it; the trusts control the majority through a network of 13 charitable foundations that own 51.54% of the holding company.
Despite the turmoil, Tata Sons reported revenue of ₹42,367 crore ($4.46 billion) for the year ending March 2026, while the wider Tata Group generated about $170 billion in the previous 12 months, underscoring the stakes of the governance dispute.
Tata Sons said it will seek guidance from the RBI, the Trusts and other stakeholders to ensure compliance with applicable regulations, but the Trusts have already indicated they will pursue a legal challenge, a move that could delay the group’s planned expansion into semiconductor manufacturing and other high‑tech ventures.