MUMBAI: Tata Sons on Thursday announced that N. Chandrasekaran will be reappointed as Chairman for a further five-year term, reversing his earlier decision not to seek an extension and setting the stage for a potential showdown with Tata Trusts, the majority shareholder of the group holding company.
Chandrasekaran had said last month that he would not seek reappointment when his current term ends in February, after the Tata Sons board could not reach a resolution on extending his tenure.
However, in a statement issued on Thursday, Tata Sons said Chandrasekaran had agreed to the board's request to reconsider his decision and would continue as the Chairman for another five years after the expiry of his current term. (IANS)
Also Read: Tata Group Chairman N. Chandrasekaran Honored with UK’s ‘Most Excellent Order of the British Empire’