Tata Succession Fight Heats Up as Trusts Start Chairman Search

Leading names inside the group include TV Narendran, who runs Tata Steel, and R Mukundan, the CEO of Tata Chemicals. Other potential candidates are Aarthi Subramanian, chief operating officer at Tata Consultancy Services; Harish Bhat, a group veteran; and P Venkatesalu, who runs Trent. Noel Tata himself is not considered a front-runner for the top job, though former Tata senior executive Mukund Rajan told BusinessLine that his experience should not disqualify him.

Chandrasekaran oversaw a period of aggressive expansion. Tata entered electronics manufacturing, semiconductor fabrication, and built a joint venture with Airbus for military aircraft. But losses in the airline business – through Air India, which Tata acquired in 2021 – and struggles in its digital unit have dented profits. The group's net debt at Tata Sons rose to roughly ₹1.1 lakh crore in FY24, filings show.

The regulatory question

The selection process depends on whether the Charity Commissioner of Maharashtra lifts restrictions on the SRTT, which is under a regulatory probe and barred from holding meetings. Tata Sons' Articles of Association require the selection committee to include three members jointly nominated by both trusts, plus one Tata Sons board member and one independent external appointee. The SRTT has applied to the commissioner for permission to participate in the AGM and advance the board's agenda.

Chandrasekaran's own re-election as a director liable to retire by rotation is on the AGM agenda. Without SRTT's participation, the meeting and the succession timeline could slide.