India's Tata Sons adjourns annual shareholder meeting days after chairman exit, source says

Business Recorder reported that Tata Sons has put off its annual general meeting, due on August 18, citing a source who spoke to Reuters on Tuesday. The postponement came only days after chairman N. Chandrasekaran announced he would not stand for another term ending in February 2027. That announcement capped months of disagreement with Tata Trusts, the controlling shareholder in Tata Sons.

Last week, Tata Trusts formed a panel tasked with proposing a successor to Chandrasekaran. The trusts appoint one third of the board, and those directors carry veto rights over major decisions. Succession ranks among the weightiest choices facing the group, whose listed firms are together valued at about $277 billion.

Minority shareholder Shapoorji Pallonji Group is pressing Tata Sons to pursue a public listing, a question on which Noel Tata and the trusts are expected to hold considerable influence. Neither Tata Trusts nor Tata Sons had replied to Reuters' queries at the time of publication.