Tata Sons outgoing Chairman, N Chandrasekaran, on Wednesday urged staff not to pay heed to “speculation and conspiracy theories” surrounding the leadership transition.

After his announcement in the morning over not to take the re-appointment as chairman, N Chandrasekaran addressed a town hall at Bombay House.

Chandrasekaran said he had been touched with the love and affection of employees over the years and reflected on his four decades with the Tata Group.

“As you might have read or be aware, am not seeking reappointment after February 2027 as term comes to an end,” he told employees.

N Chandrasekaran has released a detailed statement over his retirement.

“I have completed 40 years of professional life at the Tata Group. I am grateful for the immensely satisfying opportunity to contribute to this venerable institution. Leading Tata Sons over the past decade has been a great honour and a profound responsibility. My current tenure as the Chairman of Tata Sons comes to an end on Feb 20, 2027. Sir Dorabji Tata Trust and Sir Ratan Tata Trust had unanimously resolved and recommended the extension of my next term for a period of five years, which was recorded and recommended by the Tata Sons Nomination and Remuneration Committee and the Board.”

“Subsequently, the resolution was tabled in the Tata Sons Board on Feb 24, 2026. However, the proposal was not carried through because one of the Board Members did not support it, and in the absence of unanimous support, I chose to defer the decision.”

“I have completed 40 years of professional life at the Tata Group. I am grateful for the immensely satisfying opportunity to contribute to this venerable institution,” he said.

The stocks of Tata Group has declined over 4 per cent losing Rs 46,000 Crore in terms of market value after the chairman of Tata Sons N Chandrasekaran said he would not seek reappointment.