Tata Sons succession race narrows to three contenders

T V Narendran, Saurabh Agrawal and Ashish Chauhan emerge as key contenders for the Tata Sons chairmanship, say media reports

by e4m Staff
Published: Sep 5, 2026 1:19 PM | 2 min read

Tata Sons is in the process of selecting a successor for Chairman N Chandrasekaran, whose term ends in February 2027, with three candidates reportedly shortlisted.
The candidates under consideration are T V Narendran (CEO and MD of Tata Steel), Saurabh Agrawal (Executive Director and Group CFO of Tata Sons), and Ashish Chauhan (MD and CEO of the National Stock Exchange).
Narendran is seen as the frontrunner due to his extensive experience within the Tata Group, while Agrawal brings a strong background in finance and capital allocation.
Chauhan is viewed as a potential external candidate with significant expertise in financial markets and institutional management; the final decision will involve the Tata Sons board and Tata Trusts.

Tata Sons is reportedly closing in on a shortlist of three candidates as it looks for a successor to Chairman N Chandrasekaran, whose current term is due to end in February 2027, according to media reports.

The names said to be under consideration are Tata Steel CEO and MD T V Narendran, Tata Sons Executive Director and Group CFO Saurabh Agrawal, and National Stock Exchange (NSE) MD and CEO Ashish Chauhan.

Media reports suggest Narendran is currently viewed as the leading contender from within the Tata Group, given his long association with the conglomerate and experience running one of its largest businesses. Agrawal is also believed to be in the race, with his background in investment banking, finance and group-level capital allocation adding a different dimension to his candidature.

Chauhan, meanwhile, is being seen as a potential outside choice. A veteran of India's financial markets and one of the executives involved in setting up the NSE, he brings experience spanning capital markets, technology and institutional management.

The succession exercise remains ongoing and a final decision has not yet been made. The Tata Sons board, along with the Tata Trusts that hold controlling ownership in the holding company, is expected to have a significant say in the appointment.

Chandrasekaran took over as Tata Sons chairman in 2017 and is serving his second five-year term. He recently indicated that he would not seek another term after his tenure concludes on February 20, 2027.