Noel Tata, chair of Tata Trusts, issued a letter to Tata Sons’ company secretary Suprakash Mukhopadhyay on Monday, September 18, 2024, contesting the board’s September 17 resolution that re‑appointed N Chandrasekaran as chairman for a five‑year term beyond February 2027.
Tata’s trust holders own two‑thirds of the conglomerate’s holding company, making the challenge a high‑stakes move. Tata’s directors argued the re‑appointment was taken out of turn, absent from the meeting agenda, and limited to a brief briefing from the nomination and remuneration committee.
Venu Srinivasan, the second director from the trust, voted in favour of the re‑appointment, while Noel’s letter echoes earlier objections he raised when the vote was first held. The board’s stance suggests a split that could prompt a legal or internal review.
Market analysts warn that a protracted dispute could unsettle Tata’s governance and investor confidence ahead of planned expansion. The company has not yet scheduled a response, but a special board session in early October is expected to settle the matter.