MUMBAI: Tata Trusts has reportedly approved a third executive term for Tata Sons Chairman N Chandrasekaran, marking the first instance of the group waiving its retirement policy, The Economic Times reported.
By this extension, N Chandrasekaran will continue as the Chairman of Tata Sons till 2032.
The decision marks a break from the company’s existing retirement policy, which direct that executives retire at the age of 65.
On February 2027, Chandrasekaran would turn 65 and would normally have been required to step down under Tata Group rules that cap executive tenures at that age. However, the Trusts have decided to make an exception to ensure leadership continuity as the conglomerate advances major strategic projects in semiconductors, electric vehicle batteries, and the revival of Air India.
