Tata Trusts put faith in N Chandrasekaran for another term to sustain growth
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Mumbai: Tata Trusts approved another five-year extension for N Chandrasekaran as chairman of Tata Sons in a unanimous decision, reinforcing leadership continuity at the group. The resolution, passed by all trustees of the key holding entities - Sir Ratan Tata Trust and Sir Dorabji Tata Trust - comes amid strategic deliberations to retain Tata Sons' status as a private entity and initiate discussions with Shapoorji Pallonji (SP) Group for a possible exit. The Tata Trusts resolution is expected to be endorsed by the Tata Sons board in due course.The move reflects the Trusts' intent to maintain stability while navigating complex structural and shareholder transitions within the group. The Trusts own a controlling 66% in Tata Sons, group holding company.An official close to the matter said the group's new businesses have a gestation period of at least five to seven years, with significant capital having been committed to them. 'Chandrasekaran has proved he has the calibre and an excellent track record of delivering results,' the person said. 'His leadership will ensure stability and growth.'The resolution was passed after discussions over the current performance and future plans of Tata group companies, people in the know said. 'The trustees are highly satisfied with the leadership and group growth demonstrated by Chandrasekaran in recent years,' said another highly placed official familiar with the matter. 'Chandrasekaran's experience and leadership abilities will help steer it through the critical phase of consolidating investments in new businesses and scaling them up. His steady hand will also be crucial in ensuring Tata Sons remains a privately held company, as envisioned by the Trusts.'Tata Sons and Tata Trusts did not comment.Among the challenges ahead is keeping Tata Sons unlisted, as sought by the Tata Trusts. Also, the chairman has to consider ways of giving minority investor SP Group an exit. The latter owns 18.37% of the unlisted holding company.Tata Sons was classified as an Upper Layer NBFC (NBFC-UL) in September 2022, requiring it to list by September 2025. The company has, since, applied to RBI for deregistration and exemption from listing. It will also have to steer clear of taking on any debt in its balance sheet.Chandrasekaran was granted a second five-year term in February 2022. A TCS veteran, he joined the board of Tata Sons in October 2016 and was appointed chairman in January 2017.With him at the helm, the group nearly doubled revenue and more than tripled net profit and market cap over the past five years, during which it spent Rs 5.5 lakh crore. The group's revenue from all listed and unlisted entities was Rs 15.34 lakh crore in FY25, with net profit at Rs 1.13 lakh crore and market cap at Rs 37.84 lakh crore.'Unlike typical stock market-driven companies, large multi-generational family-owned businesses across the globe don't have leadership only for few years but for a sufficiently long period so the leader can shape the generational evolution, and until the person has the trust of the owners and is capable of effectively leading the business, for which Chandrasekaran is a perfect fit,' said Sougata Ray, executive director of the Thomas Schmidheiny Centre for Family Enterprise at the Indian School of Business (ISB).
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