Tata Trusts oppose Chandrasekaran’s reappointment as Tata Sons chairman
Mumbai, Sept 17 (TNT): Tata Trusts on Thursday reiterated their opposition to the proposed reappointment of N Chandrasekaran as Chairman of Tata Sons, maintaining that the resolution passed at the company’s board meeting was legally invalid.
In a release, the Trusts said Chandrasekaran had informed the Tata Sons Board on August 12 that he would not seek reappointment after his current tenure ends on February 20, 2027.
The Trusts said they accepted the decision the following day and advised Tata Sons to initiate the process of selecting his successor.
The resolution seeking Chandrasekaran’s reappointment was taken up at Thursday’s board meeting, with four directors voting in favour and Tata Trusts Chairman Noel N Tata voting against it, the statement said.
The Trusts maintained that under the Articles of Association of Tata Sons, a resolution appointing or reappointing the Chairman requires the support of the Trusts’ nominee directors. It said the resolution could not be validly passed without both nominee directors voting in favour.
Noel N Tata also submitted a legal opinion obtained from former Chief Justice of India Justice D Y Chandrachud on the issue, but the Board did not take note of it, the release said.
The Tata Trusts said they remained committed to an orderly and timely leadership transition at Tata Sons and the Tata Group.
TNT KM
