Mumbai: Tata Sons Chairman N. Chandrasekaran will resign as Director and Chairman of Tata Chemicals, effective May 29, the company informed the stock exchanges on Wednesday. 

The Board accepted his resignation and appointed S Padmanabhan, a current Director, as the new Chairman, effective from May 30. Additionally, Modan Saha has been appointed as an Additional Director, effective May 28.

“I am writing to formally inform you of my decision to step down from my position as a director and Chairman of the Board of Directors of Tata Chemicals Limited w.e.f. May 29, 2025,” Chandrasekaran wrote in his letter to the Board.

“After careful evaluation my current and future commitments, I have decided to step down from the Board. It has been a privilege to chair the Tata Chemicals board and I sincerely appreciate the support and collaboration during my tenure,” he further added.

Chandrasekaran led Tata Chemicals as Chairman during a period of strategic transition and realignment within the Tata Group.

In a stock exchange filing, the company said it has “taken on record the request received from Mr. N Chandrasekaran vide his letter dated May 28, 2025 conveying his intention to step down from the position of Director and Chairman of the Board of Directors of the Company with effect from May 29, 2025”.

Saha has been appointed as an Additional Director (Non-Executive, Non-Independent), effective May 28, based on the recommendations of the Nomination and Remuneration Committee.

Saha is currently leading select Strategic Initiatives at Tata Sons. In his earlier role, he was the founding Director and CEO-Financial Services at Tata Digital.

Prior to joining Tata Digital, he was the CEO of Tata Strategic Management Group, which supports Tata Group companies and Tata Group Chairman’s Office in strategy and transformation initiatives.

In the financial services sector, Saha worked across companies like Axis Bank, UBS Singapore and ICICI Bank in multiple roles. (IANS)