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Tata Motors Passenger Vehicles (TMPV) Managing Director and CEO Shailesh Chandra has asserted that the ongoing dispute between Tata Sons and Tata Trusts holds ‘no concern’ for the independently listed company, which remains focused on its strategic objectives.
Photograph: Hitesh Harisinghani/Rediff
Key Points
- Tata Motors Passenger Vehicles (TMPV) MD and CEO Shailesh Chandra affirmed that the company is not concerned by the Tata Sons and Tata Trusts dispute.
- Chandra emphasised that TMPV is an independently listed company with its own strategy and is focused on its execution.
- The group-level dispute will not affect TMPV’s investment, product, or electric vehicle plans, according to Chandra.
- The dispute arose after Tata Sons’ board backed N Chandrasekaran for another term despite opposition from Tata Trusts Chairman Noel Tata.
- N Chandrasekaran had previously announced he would not seek another term as Tata Sons Chairman due to a lack of unanimous support.
The ongoing tussle between Tata Sons and Tata Trusts is of no concern to Tata Motors Passenger Vehicles (TMPV) as the latter is a listed company focused on its own strategy and continuing to pursue it, said TMPV managing director (MD) and chief executive officer (CEO) Shailesh Chandra on Friday.
TMPV’s Independent Stance
Asked whether the current group-level dispute had affected TMPV”s investment, product or electric vehicle plans, Chandra — during a media roundtable after compact sedan Aeris’s launch — said that the company was independently listed and focused on its own strategy.
“We are an independently listed company boss. We focus on our task.
“I have nothing to do with that. So I don’t want to even comment. I don’t even see in that fashion,” the MD explained.
“We are working. We are a listed company. We have our strategy. We are pursuing it,” he added.
Assurance to Shareholders
Chandra was then asked what assurance he would give TMPV shareholders that the group-level tussle would not affect the company.
“I don’t know how to respond to that. I have already said this. I have no concern.
“Why do I need to assure or do anything?” the MD replied.
Background to the Dispute
The Tata Trusts, a group of philanthropic trusts led by the Sir Ratan Tata Trust and Sir Dorabji Tata Trust, collectively own about 66 per cent of Tata Sons, the holding company of the Tata Group.
The current dispute rose earlier this month after Tata Sons board backed N Chandrasekaran for another term as chairman and decided to proceed towards compliance with RBI listing requirements, despite opposition from Tata Trusts Chairman Noel Tata on both issues.
In August, Chandrasekaran announced that he would not seek another term as Tata Sons Chairman when his tenure ends in February 2027, following a lack of unanimous support for his reappointment amid tensions with Tata Trusts.
A day later, TMPV MD and CEO Shailesh Chandra said the leadership change would not affect the company’s strategy or capex plans.
“Tata Motors (Passenger Vehicles) has a clear strategy and a strong management team focused on execution.
“The company operates through a robust governance process and long-term strategic plans,” he had said on the quarterly earnings call.
