Tata Sons directors voted 4-1 to extend Chairman N Chandrasekaran's tenure by five years and pursue a public listing, despite Tata Trusts Chairman Noel Tata opposing the move. Tata Trusts, which owns 66% of the holding company, called the decisions illegal. The rift threatens leadership stability at the 158-year-old conglomerate, which is expanding iPhone production and building India's first chipmaking facility.
Tata Sons Board Extends Chairman's Term, Backs Public Listing
Source: Moneycontrol