Shares of Tata Motors Passenger Vehicles declined 3.86% to Rs 334.20 apiece on Wednesday after Tata Sons' Chairman N Chandrasekaran decided to step down from his position.
The shares pared some losses to trade 3.38% lower at Rs 336 apiece, as of 12:55 p.m., compared to a 0.81% decline in the Nifty index.
The shares have fallen 6.75% year-to-date and 60.9% in the last 12 months. The company is slated to
N Chandra Steps Down
Tata Sons Chairman N Chandrasekaran decided not to offer himself for reappointment when his current tenure ends on February 20, 2027.
Chandrasekaran has communicated his decision to the Tata Sons Board, ahead of the company's August 18 annual general meeting (AGM), saying he has asked the Board to decide on his succession soon to ensure a proper transition.
Chandrasekaran said his current tenure as Chairman of Tata Sons ends on February 20, 2027. He said the Sir Dorabji Tata Trust and Sir Ratan Tata Trust had unanimously resolved and recommended extending his next term by five years. The proposal was subsequently recorded and recommended by the Tata Sons Nomination and Remuneration Committee and the Board.
According to Chandrasekaran, the resolution was tabled at the Tata Sons Board meeting on February 24, 2026, but was not carried through after one Board member did not support it.
“However, the proposal was not carried through because one of the Board Members did not support it, and in the absence of unanimous support, I chose to defer the decision,” he said.
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