Tata Sons Succession: Who Are the 3 Names in Race To Replace N Chandrasekaran?

Tata Sons, the holding company of the Tata Group, has narrowed its search for Chairman N Chandrasekaran’s successor to three prominent corporate leaders, according to people familiar with the matter. Tata Steel CEO and MD T V Narendran, Tata Sons Executive Director and Group CFO Saurabh Agrawal, and NSE MD and CEO Ashish Chauhan are among the names under consideration, PTI reported.

Narendran has emerged as the strongest internal candidate, while Agrawal brings extensive experience in investment banking, capital allocation and portfolio management. Chauhan, a veteran of India’s capital markets and one of the executives involved in establishing the National Stock Exchange (NSE), is being seen as a potential dark horse.

The selection process is still underway and no final decision has been made. The Tata Sons board and the trusts that control the holding company are expected to play a key role in selecting the next chairman. Tata Sons Leadership Change: N Chandrasekaran Tells Staff to Ignore ‘Gossip, Theories, Conspiracies’.

TV Narendran Leads Internal Race

Narendran, a Tata Steel veteran who joined the company in 1988, has spent more than three decades within the Tata Group. He has led Tata Steel as CEO and MD for more than a decade, overseeing the company through commodity cycles, large capital investments and challenges surrounding its European operations.

He has also held major industry positions, including chairman of the World Steel Association and president of the Confederation of Indian Industry.

However, his experience has primarily been focused on Tata Steel, giving him comparatively less exposure to the broader capital-allocation and portfolio decisions handled at the Tata Sons level.

Saurabh Agrawal Brings Finance Experience

Saurabh Agrawal joined Tata Sons in 2017 as Group CFO and currently serves as Executive Director and Group CFO. His role involves capital allocation, investment management and portfolio optimisation across the Tata conglomerate. N Chandrasekaran Resigns as Tata Sons Chairman, Will Complete Term Until February 2027: Report.

Agrawal previously worked in investment banking with DSP Merrill Lynch and Standard Chartered and also held a strategy role at the Aditya Birla Group. He serves on the boards of several Tata Group companies.

His financial expertise could be particularly valuable as the conglomerate increases investments in areas including aviation, semiconductors, electric mobility and digital businesses.

Ashish Chauhan Could Be the Dark Horse

Ashish Chauhan brings experience spanning technology, finance, capital markets and institutional leadership. He was involved in the establishment of the NSE in the 1990s, later served as CEO of the Bombay Stock Exchange and returned to NSE as MD and CEO in 2022.

His experience in dealing with regulators and managing large financial institutions could work in his favour. However, heading Tata Sons would represent a major shift from capital markets to overseeing a conglomerate with interests across more than 30 businesses.

What Challenges Will the Next Tata Sons Chairman Face?

The next chairman will take charge at a crucial time for the Tata Group. Key priorities will include Air India's expansion, Tata's semiconductor investments, TCS's technology transition and the long-pending issue of a Tata Sons listing.

Chandrasekaran, who became Tata Sons chairman in 2017, is currently serving his second five-year term. He announced last month that he would not seek reappointment after his tenure ends on February 20, 2027.

For now, TV Narendran remains the leading internal contender, with Saurabh Agrawal emerging as the finance-focused alternative and Ashish Chauhan positioned as a potential surprise choice.

(The above story first appeared on LatestLY on Sep 05, 2026 06:27 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).