Tata Sons, the holding company of the Tata Group, is preparing for a boardroom shake-up as multiple directors are set to retire in line with company policy. Among the most notable changes:
- Ralf Speth, former Jaguar Land Rover CEO, is expected to step down in the coming months upon turning 70.
- Ajay Piramal, 69, may step down by mid-2026.
- Leo Puri, an independent director, resigned in April.
These changes open up two director seats—one of which, sources say, could go to a group company executive.
TV Narendran Tipped for Board Role
TV Narendran, CEO & MD of Tata Steel, is reportedly a strong contender for the board. Known for his leadership and deep experience within the Tata Group, Narendran is seen by insiders as one of the few leaders with the credentials to step into the Tata Sons boardroom at this stage.
“There are very few senior Tata executives today with the depth of Narendran’s experience and leadership,” said a group executive.
Age Rules and Internal Policy
Tata Sons follows a clear retirement policy:
- Executive roles: retirement at 65
- Board-level positions: retirement at 70
However, Tata Trusts’ nominees on the board are exempt. Current trust nominees include:
- Noel Tata
- Vijay Singh (76)
- Venu Srinivasan (72)
Other independent directors include Harish Manwani and Anita M George.
Changing the Legacy of 2016 Board
These transitions signal a generational shift from the board established by Ratan Tata in 2016, following Cyrus Mistry’s ouster. While some veterans like Bhaskar Bhat have stepped down post-retirement, others like Harish Bhat and Banmali Agrawala continue in advisory roles.
Massive Capital Commitment of ₹30,000 Crore
Tata Sons is also making a massive equity infusion of ₹30,000 crore (~$3.5 billion) into:
- Tata Digital
- Tata Electronics
- Air India
- Defence and battery units
This follows the group’s long-term commitment of $120 billion in emerging sectors. Executives confirmed that defence remains a strategic priority.
Banmali Agrawala, now a Tata Sons advisor, is also non-executive chairman of Tata Electronics.
Strategic Move: RBI License Surrender
In another key development, Tata Sons has voluntarily surrendered its NBFC license with the Reserve Bank of India after repaying over ₹20,000 crore in debt. The move ensures Tata Sons remains an unlisted, closely held company, allowing more strategic freedom going forward.
What’s Next?
With leadership exits, seasoned entrants, and bold financial commitments, Tata Sons is clearly transitioning into its next growth chapter—focused on tech, defence, aviation, and infrastructure, backed by strong internal leadership and lean governance.
