When the board of Tata Sons meets tomorrow in Mumbai, one decision is likely to dominate the agenda: The extension of N Chandrasekaran as chairman of India’s largest conglomerate.
Appointed in 2017 after the exit of Cyrus Mistry, Chandrasekaran was seen as a steady insider with global credibility. Nearly a decade later, he is credited with restoring cohesion within the group and sharpening its strategic focus. An extension would signal the board’s preference for continuity amid sweeping change across its businesses.
Chandrasekaran, who previously led Tata Consultancy Services, brought a data-driven, performance-oriented culture to the holding company. Under his tenure, the combined market capitalisation of listed Tata group companies has more than doubled, buoyed by stronger balance sheets, improved profitability and renewed investor confidence. Portfolio rationalisation has accelerated, debt has been reduced at key firms, and capital allocation has grown more disciplined.
Aviation remains one of his boldest bets. The reacquisition of Air India and its integration with Vistara mark the group’s high-stakes return to the skies. The turnaround is still underway, but it is central to the group’s global ambitions.
Other long-cycle investments are progressing in parallel. The semiconductor push, electric vehicle expansion at Tata Motors, and renewable energy scale-up at Tata Power reflect a sharper tilt towards future-facing sectors. Meanwhile, Tata Steel continues to manage decarbonisation challenges in Europe.
For the Tata Trusts, principal shareholders of Tata Sons, stability at the top is critical. The past decade has underscored the value of alignment between the holding company and operating boards. With several capital-intensive projects midstream, insiders say continuity is seen as essential.
Chandrasekaran’s understated leadership style has also tightened group-level oversight, with sharper targets for return on capital and cash generation. Yet risks persist: Uneven global growth, geopolitical disruptions and the rapid advance of artificial intelligence—particularly relevant for technology services—are reshaping competitive dynamics.
An extension would reassure investors and partners that the Tata group intends to stay the course. It would also give Chandrasekaran time to see through the transformation bets he has set in motion.
In many ways, tomorrow’s meeting is less about change than endorsement. For a conglomerate built on institutional continuity, the message may be simple: In uncertain times, back stability.
First Published: Feb 23, 2026, 18:32
Subscribe Now