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Tata Sons board reappoints chairman despite shareholder opposition
BBC News · World
Published · Updated
- Tata Sons board reappointed N Chandrasekaran as chairman this week against the wishes of its largest shareholder.
- Tata Trusts, which owns 66 percent of Tata Sons, called the reappointment decision illegal under the company's articles.
- The board also backed a public listing of the holding company, which Tata Trusts opposed.
- Tata Trusts signaled it will likely vote against Chandrasekaran's reappointment at the upcoming Annual General Meeting.
- The company must hold its AGM before December 31, though no new date has been announced yet.
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