Tata Sons chair Chandrasekaran skips TCS AGM following AI crash crisis

Mint

7 hours ago

Natarajan Chandrasekaran skipped Tata Consultancy Services' annual general meeting on Thursday after being absent from Tata Consumer Products Ltd's shareholder meeting a day before, as the Tata Sons chairman battles a crisis following a deadly Air India plane crash last week.
This is the first time in 18 years that Chandrasekaran has missed TCS's shareholder meeting since he was inducted into the board in 2007. He served as the chief executive officer of TCS from 2009 to 2017, when he was picked to take over as the chair of Tata Sons.
'The chairman of the board, N. Chandrasekaran, will not be able to attend the meeting due to some exigencies," said Yashaswin Sheth, TCS's company secretary.
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TCS's stock ended about 1% lower at ₹3,424.25 on the BSE on Thursday.
During TCS's 30th annual general meeting, wishes poured in for Ratan Naval Tata, former chairman emeritus of the Tata Group, who passed away on 9 October due to health-related issues. Noel Tata was later appointed as the chairman of Tata Trusts.
At least four wishes came in for Chandrasekaran, with sitting chairman Keki Mistry adding that Chandrasekaran was 'working a lot on the unfortunate incident that happened last week".
On 12 June, an Air India flight from Ahmedabad to London crashed soon after take-off, killing more than 240 people and making it the country's worst civil aviation disaster in almost three decades.
Chandrasekaran was among the first of the Tata Group leaders to reach Ahmedabad, saying it was 'the worst day" of his 'professional career".
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Since then, Chandrasekaran has met with Air India employees, government officials and Boeing and GE Aerospace representatives. The Air India flight was a Boeing 787-8 Dreamliner model, and GE Aerospace built the two engines.
Mistry said that the Tata Group would extend support to those affected by the Air India crash.
'The Tata Group is fully committed to support the ongoing investigation and cooperate with the regulatory authorities. The Tata Group has pledged comprehensive support including financial assistance and rebuilding efforts to aid those who have been impacted," said Mistry, in response to shareholder questions during TCS's AGM.
The Aircraft Accident Investigation Bureau (AAIB), part of the ministry of civil aviation, is investigating the cause of the air crash. A team from the National Transportation Safety Board, the US investigative agency responsible for civil transportation accident investigations, the Federal Aviation Administration, Boeing and GE Aerospace are assisting the AAIB.
'Considering chairman Chandrasekaran has attended all board meetings in the past, he is probably trying to balance his time commitments," said Shriram Subramanian, founder and managing director of the proxy advisory firm InGovern Research Services.
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Chandrasekaran is the chairman of six listed Tata Group companies, including Tata Consultancy Services, Tata Motors, Tata Steel, Tata Power, Tata Consumer Products Ltd and Indian Hotels Company Ltd. He is also the chair of four privately-held Tata Group companies, including Agratas, Tata Electronics, Tata Digital and Air India.
He stepped down as the director and chairman of the board of directors of Tata Chemicals last month.
'I am writing to formally inform you of my decision to step down from my position as a director and chairman of the Board of Directors of Tata Chemicals Limited w.e.f. 29th May, 2025. After careful evaluation of my current and future commitments, I have decided to step down from the Board. It has been a privilege to chair the Tata Chemicals board and I sincerely appreciate the support and collaboration during my tenure." said Chandrasekaran as part of the company's exchange filing to the NSE on 28 May.
Tata Motors Ltd's annual general meeting is on Friday.