(Bloomberg) -- Tata Group is examining at least two internal candidates as India's largest conglomerate seeks to find a successor to ousted Chairman Cyrus Mistry, according to people familiar with the matter.
Tata Consultancy Services Ltd. Chief Executive Officer N. Chandrasekaran and Jaguar Land Rover head Ralf Speth are among those being considered, the people said, asking not to be identified because the process is private. Trent Ltd. Chairman Noel Tata, a member of the founding family and Mistry's brother in law, is also being considered, one of the people said. The preliminary list is subject to change, according to the people, as the search committee has four months to identify a replacement.
Natarajan Chandrasekaran
Chandrasekaran and Speth didn't immediately respond to requests for comment. Tata Sons Ltd., the group's holding company, declined to comment. Noel Tata wasn't immediately reachable.
On Monday, the group's holding company abruptly ousted Mistry, 48, as chairman and replaced him with his 78-year-old predecessor Ratan Tata, who said the scion of the founding family will only fill in the role temporarily. The conglomerate has set up a committee to search for a successor.
Mistry had focused on being fiscally prudent and exiting non-profitable businesses during the nearly four years he was in charge. That was a contrast to the group's acquisitive tendencies under Ratan Tata, who spearheaded the purchases of Jaguar Land Rover and steelmaker Corus Group Plc.
--With assistance from P R Sanjai To contact the reporters on this story: George Smith Alexander in Mumbai at galexander11@bloomberg.net, Siddharth Philip in Mumbai at sphilip3@bloomberg.net, Anurag Kotoky in New Delhi at akotoky@bloomberg.net. To contact the editors responsible for this story: Ben Scent at bscent@bloomberg.net, Young-Sam Cho, Arijit Ghosh
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