00:00Uncertainty clouds the outlook for Tata Sons, the holding company of one of India's oldest
00:05conglomerates running businesses including Air India, Jaguar Land Rover and KCS.
00:10Chairman Nadarajan Chandrasekharan says he will step down at the end of his term next
00:15year just as the group pushes deeper into high-tech sectors.
00:19Chandra, as he widely known, said the decision followed months of deadlock over his reappointment
00:25after one director declined to support renewing his tenure.
00:28Shares of Tata Group companies fell in Mumbai with Tata Consultancy Services, the conglomerate's
00:34biggest company sliding as much as 5.1%.
00:38The leadership uncertainty comes as the conglomerate pours money into capital intensive ventures including
00:43a multi-billion dollar plan to manufacture semiconductor chips.
00:47After a difficult year that included Air India's deadly plane crash and a cyber attack at Jaguar
00:53Land Rover, Chandra was already under pressure to turn around the fortunes of India's oldest
00:57business house.
00:58The 180 billion dollar steel to salt conglomerate was already navigating headwinds across multiple
01:04businesses and the nagging uncertainty on whether Tata Sons will be forced to list by India's
01:10banking regulator.
01:10The risk of a leadership vacuum has now compounded the challenges for Noel Tata who leads Tata Trust,
01:17the majority shareholder in Tata Sons.
01:19business with Tata Codes.
01:19business offices.
01:19.
01:21.
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