Daijiworld Media Network - Mumbai

Mumbai, Aug 12: Tata Sons chairman N Chandrasekaran has discussed with close associates the possibility of stepping down ahead of the company’s August 18 annual general meeting (AGM), amid uncertainty over his reappointment as a director and continuing differences within the Tata group, Reuters reported.

Chandrasekaran is considering stepping down rather than allowing his continuation as chairman to be decided at what could be a contentious shareholder meeting, according to the report. His current term as chairman runs until February 2027, but his continuation depends on his reappointment as a director of Tata Sons.

Tata Sons shareholders are scheduled to vote on Chandrasekaran’s reappointment as a director at the August 18 AGM, according to the company’s notice.

The uncertainty comes amid differences between Chandrasekaran and Tata Trusts chairman Noel Tata. The Tata Sons board in February deferred a decision on Chandrasekaran’s reappointment as chairman after Noel Tata raised concerns over the performance of some of the group’s newer businesses.

The developments have added to uncertainty over the leadership of Tata Sons, the holding company of the Tata group, ahead of the crucial shareholder meeting.