Tata Trusts Vice-Chairman Vijay Singh quits Tata Sons board ahead of key meeting

In an unexpected move, Vijay Singh, vice-chairman of Tata Trusts, has resigned from the board of Tata Sons just a day before the company’s scheduled meeting. His exit comes as the holding company of the $165-billion Tata Group faces mounting pressure from the Reserve Bank of India (RBI) to meet the deadline for its much-anticipated initial public offering (IPO), The Times of India reported.

Tata Trusts, primarily through the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, controls about 52% of Tata Sons. With Singh’s departure, the Trusts' representation on the board is now limited to Noel Tata, its chairman, and Venu Srinivasan, vice-chairman. Tata Sons has yet to issue an official statement on Singh’s resignation.

This marks the end of Singh's second tenure at Tata Sons. A former defence secretary, he was first inducted into the board in June 2013 but stepped down in July 2018 after turning 70, in line with the retirement policy then in place for Tata Trusts' nominees.

In February 2022, Singh rejoined the board after Ratan Tata relaxed the rigid age-limit norms, introducing greater flexibility for directors. Over the years, such policies have been tweaked to extend tenures or bring them to a close, reflecting the group’s shifting requirements.

Amid the string of recent exits, Tata Steel CEO and managing director TV Narendran is likely to join the Tata Sons board, according to The Economic Times. The 60-year-old veteran of over three decades at the group, who has overseen Tata Steel’s global expansion, reportedly met chairman N. Chandrasekaran at Bombay House to discuss the move.

Narendran's potential induction would come as the board sees a wave of departures. Ralf Speth, the former Jaguar Land Rover chief, stepped down earlier this month after turning 70, independent director Leo Puri resigned in April, and industrialist Ajay Piramal exited in August upon hitting the retirement age. Together, their exits have left three seats vacant.

If appointed, Narendran's entry will further strengthen Tata Steel's presence in Tata Sons' apex decision-making body, reinforcing its influence alongside Noel Tata's leadership.