Tata Sons succession race narrows to Narendran, Agrawal; NSE’s Ashish Chauhan emerges as dark horse
NEW DELHI: The succession race at Tata Sons, the holding company of the $275-billion-plus Tata Group, has narrowed to three prominent corporate leaders — Tata Steel CEO and Managing Director T V Narendran, Tata Sons Executive Director and Group CFO Saurabh Agrawal, and NSE MD and CEO Ashish Chauhan, according to people familiar with the matter.
Narendran has emerged as the frontrunner among the internal candidates, while Agrawal remains in contention, backed by his experience in investment banking and capital allocation, the people said. Chauhan, a veteran of India’s capital markets and one of the founding executives of the National Stock Exchange, is also being considered and could emerge as the dark horse in the race.
The succession process is still underway and no final decision has been taken. The selection of the next chairman is expected to involve the Tata Sons board as well as the Tata Trusts, which control the holding company.
The leadership transition assumes significance after current Tata Sons Chairman N Chandrasekaran decided not to seek another term when his tenure ends on February 20, 2027. His decision has set in motion a closely watched process to identify a successor to lead the sprawling conglomerate.
