Tata Sons board approves fresh 5-year term for N. Chandrasekaran

Mumbai: Tata Sons’ board on Thursday voted to reappoint N. Chandrasekaran for a third five-year term as Chairman.

The reappointment comes weeks after he told directors he did not intend to seek reappointment, people familiar with the deliberations said. The reversal was driven by regulatory pressure on the group’s holding company, with board members reasoning that continuity of leadership would reassure prospective investors ahead of any listing process.

The shift follows the Reserve Bank of India’s rejection last week of Tata Sons’ application to surrender its registration as a non-banking financial company — a decision that revives the prospect of a stock listing the company had spent more than a year trying to avoid, including by repaying more than Rs 21,000 crore in debt.