Tata Group chairman N Chandrasekaran has said he will not seek reappointment when his term ends in February, after Tata Sons’ board failed to agree on a proposed five-year extension. The announcement has unsettled investors, sending shares in listed Tata companies lower and raising uncertainty over leadership at the conglomerate, which owns businesses including Air India, Tata Steel and Jaguar Land Rover.

Chandrasekaran, 63, has led Tata since 2017 and said a board member opposed his extension proposal in February, with no agreement reached six months later. The decision follows months of reported tensions between trustees of Tata Trusts, which owns 66% of Tata Sons, and board members over governance, funding, nominations and a possible public listing; the group has not commented publicly on the disputes. The leadership question comes as Tata manages major strategic projects, including the revival of Air India following its 2022 purchase from the Indian government.