The business told the stock exchanges on Wednesday that N. Chandrasekaran, the chairman of Tata Sons, would step down as chairman and director of Tata Chemicals with effect from May 29.
His resignation was approved by the Board, and S Padmanabhan, an existing Director, was named the new Chairman with effect from May 30. With effect from May 28, Modan Saha has also been appointed as an Additional Director.
In his letter to the Board, Chandrasekaran stated, “I am writing to formally inform you of my decision to step down from my position as a director and Chairman of the Board of Directors of Tata Chemicals Limited w.e.f. May 29, 2025.”
“I have made the decision to leave the Board after carefully weighing my obligations, both present and future. He went on to say, “I truly appreciate the support and collaboration during my tenure as chair of the Tata Chemicals board. It has been a privilege.”
During a time of strategic change and realignment within the Tata Group, Chandrasekaran served as Chairman of Tata Chemicals.
“The company has taken on record the request received from Mr. N Chandrasekaran via his letter dated May 28, 2025 conveying his intention to step down from the position of Director and Chairman of the Board of Directors of the Company with effect from May 29, 2025,” the company stated in a stock exchange filing.
With effect from May 28, Saha has been appointed as an Additional Director (Non-Executive, Non-Independent) in accordance with the Nomination and Remuneration Committee’s recommendations.
At Tata Sons, Saha is now in charge of a few strategic initiatives. He formerly served as Tata Digital’s founding director and CEO of financial services.
He served as the CEO of the Tata Strategic Management Group, which assists the Tata Group Chairman’s Office and Tata Group enterprises with strategy and transformation projects, before joining Tata Digital.
Saha had a variety of positions in the financial services industry with organizations such as ICICI Bank, Axis Bank, and UBS Singapore.
Read More
Today in Gandhinagar, PM Modi will introduce Gujarat’s urban development plan