India’s Tata Sons chairman says he is stepping down
AFP | Mumbai
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Tata Sons chairman N. Chandrasekaran said yesterday he would not seek reappointment when his term ends next year, deepening a leadership crisis at India’s largest conglomerate.
Tata Sons is the single largest shareholder in firms including IT giant Tata Consultancy Services (TCS) and Tata Motors, which owns British luxury car maker Jaguar Land Rover.
Chandrasekaran, 63, said he had informed the board that he would step down when his tenure ends early next year, after directors failed to reach a decision on his future.
He said a decision on the new leadership was needed as several major projects were at critical stages.
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