Tata Trusts accepts N Chandrasekaran's decision, begins search for next Tata Sons chairman

Tata Trusts has accepted N Chandrasekaran's decision not to seek another term as chairman of Tata Sons and has begun the process of finding his successor.

Chandrasekaran wrote to the trust saying he will not seek reappointment when his current term ends in February 2027.

In its response to Chandrasekaran

's letter, the Sir Dorabji Tata Trust said, "The Sir Dorabji Tata Trust respects Mr. Chandrasekaran’s decision not to offer himself for re-appointment. We place on record our deepest appreciation for his contribution and stewardship of TataSons and the Tata group over the past decade. We thank him for his immense contribution during a period of significant change, growth and transformation across the Group."

The trust has passed a resolution to begin setting up a selection committee, which will recommend a person for appointment as the next chairman of Tata Sons.

The trust said it wants to act "as soon as possible," but has not named who will sit on the committee or given a specific deadline.

Reacting to the development, Shailesh Haribhakti, Chairman of Shailesh Haribhakti Associates, called the move positive.

"This removes uncertainty and makes the process come alive, and I think that's positive from the point of view of making sure that uncertainty doesn't prevail and people don't speculate about it. So very, very positive and very sensible thing," Haribhakti said.

He said he'd be very surprised if a new chairman takes over before Chandrasekaran's term ends in February 2027, and expects the group to consider candidates from both inside and outside the Tata fold.