Malaysia (Commonwealth Union)_ The race to become the next chairman of Tata Sons is gaining attention as the group prepares for a leadership change in 2027. Accordingly, three names are emerging as key contenders: Tata Steel CEO and Managing Director T.V. Narendran; Tata Sons Managing Director and Group Chief Financial Officer Saurabh Agarwal; and NSE Managing Director and CEO Ashish Chauhan. Among the three pioneers, Narendran is seen as the strongest internal candidate because of his long association with the Tata Group and his experience running a major industrial company. Agarwal brings deep expertise in finance, investments and capital allocation, areas that are increasingly important as the group expands into new businesses.
Chauhan, meanwhile, would be a more unexpected choice, with experience spanning technology, financial markets and corporate leadership. However, the final decision has not yet been made. Tata Sons and Tata Trusts are expected to have an important role in the selection. N. Chandrasekaran, who became chairman in 2017, has said he will not seek another term after his current tenure ends on February 20, 2027. Other names reported as possible contenders include Tata Sons Group Chief Digital Officer Aarthi Subramanian; Tata Motors CEO Shailesh Chandra; and Tata Power CEO Praveer Sinha. Noel Tata has also been mentioned as a possible interim chairman.
Who is TV Narendran?
T.V. Narendran stands out for his long experience within the Tata Group. He joined Tata Steel in 1988 and has worked at the company for over three decades. For over a decade he has led Tata Steel as CEO and Managing Director, giving him plenty of experience in running a large and complex industrial business. In his time in the job, Narendran has dealt with fluctuating raw material prices, major investment decisions and the challenges of Tata Steel’s European operations. His leadership has also reached beyond the company.
Narendran has been president of both the World Steel Association and the Confederation of Indian Industry. These credentials make him a highly suitable choice to take on the chairman’s role. His biggest challenge, however, could be the breadth of the position. Much of his senior leadership experience has been centred on steel, while the chairman of Tata Sons must oversee a highly diversified group operating across several industries. Therefore, his ability to make decisions across the wider group’s businesses and capital allocation could be closely examined.
Also read: Vijay joins Modi and Rahul in the 2029 PM race: How did Vijay become a serious contender for India’s PM post in just two years?
Who is Saurabh Agarwal?
Saurabh Agarwal brings a different set of strengths to the race. He joined Tata Sons in 2017 as Group Chief Financial Officer and is now its Managing Director and Group CFO. Agarwal’s responsibilities include capital allocation, investments and portfolio management across the group. Before joining Tata Sons, Agarwal worked in investment banking including at DSP Merrill Lynch and Standard Chartered. He also held strategic roles at the Aditya Birla Group.
Saurabh’s experience has given him a strong understanding of financial markets, investments and long-term capital decisions. Agarwal also sits on the boards of several Tata Group companies, including Tata Capital and Tata Digital. His financial background could be particularly valuable as the group continues to invest in areas such as airlines, semiconductors, electric mobility and digital businesses.
Who is Ashish Chauhan?
Ashish Chauhan offers perhaps the most different profile among the three. His career combines technology, finance, capital markets and corporate management. He was involved in the establishment of the NSE in the 1990s and later served as the head of the BSE. He returned to the NSE in 2022 as its Managing Director and CEO. Supporters of Chauhan say his experience of building institutions, heading large organizations and working in a tightly regulated environment could be advantageous for Tata Sons, which manages businesses across sectors.
But the chairman’s job would require Chauhan to make a big shift from financial markets to running a diversified conglomerate. The Tata Group has more than 30 businesses, meaning the job would require a broad understanding of industries, strategy, investments and long-term priorities for the group. For now, Narendran, Agarwal and Chauhan each bring a distinct advantage. The final choice will depend on which qualities Tata Sons and Tata Trusts believe are most important for the group’s next phase of growth.
