Search Underway for New Chief of Tata Sons
MUMBAI: Noel Tata, chairman of Tata Trusts, has initiated the search for the next chairman of Tata Sons, following a meeting with former HDFC chairman Deepak Parekh at the Taj Wellington Mews Residences in Mumbai. This meeting took place after the adjourned Tata Sons annual general meeting on Tuesday and included another trustee from the Trusts. The discussions centered on forming a succession committee to oversee the selection of the next chairman of Tata Sons, which is the holding company of the $185 billion Tata Group.
The succession committee is mandated by Tata Sons’ Articles of Association and will lead the search for a successor to N Chandrasekaran, who plans to step down when his term ends in February 2027. It remains unclear whether Parekh was offered a position on this committee. Noel Tata’s office did not respond to inquiries, and Parekh could not be reached for comment.
Parekh has a history with the Tata Group, having maintained significant business ties during his tenure at HDFC. He also served on the board of Indian Hotels Company, a flagship hospitality entity of the Tata Group. Notably, he publicly supported Cyrus Mistry during the boardroom conflict that followed Mistry’s removal as chairman in 2016.
According to Tata Sons’ Articles, the succession committee must consist of five members: three nominated by the Sir Dorabji Tata Trust (SDTT) and Sir Ratan Tata Trust (SRTT), and two selected by the Tata Sons board. One board representative is likely to be an existing Tata Sons director, while the other may be an external independent member. However, the formation of the committee faces challenges due to regulatory restrictions on SRTT, complicating the nomination process.
The search committee model has been previously utilized at Tata Sons. Cyrus Mistry was appointed in 2012 through a similar process to succeed Ratan Tata. After Mistry’s ouster in 2016, a five-member committee was formed to identify a successor, which ultimately led to Chandrasekaran’s appointment. The current succession process is taking place amid ongoing governance discussions regarding the balance of power between Tata Sons’ executive leadership and its controlling shareholders, the Trusts.
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