Tata Sons Chairman N Chandrasekaran will step down as Director and Chairman of Tata Chemicals, with effect from May 29, 2025. Tata Chemicals, in an exchange filing today, said the board has appointed company director S. Padmanabhan as the chairman of the board with effect from May 30, 2025.

Chandra, in his letter to the company board, wrote: "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. 29th May, 2025. After careful evaluation of 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."

Based on the recommendations of the nomination and remuneration committee, the board also appointed Modan Saha as an additional director (non-executive, non-independent) with effect from May 28, 2025.

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. Before that, Saha was the CEO of Tata Strategic Management Group, which supports Tata Group companies and the Tata Group Chairman’s Office in strategy and transformation initiatives. He is a graduate in Aerospace Engineering from IIT Kharagpur and an MBA from IIM Calcutta.

As per the company, he comes with extensive experience in the banking and financial services industry, where he spent more than 17 years before joining the Tata Group. In the financial services sector, he worked across companies like Axis Bank, UBS Singapore and ICICI Bank in multiple roles, including in corporate strategy, strategic investments, fintech marketplaces and global private banking.

Saha also serves on the board of Tata Business Hub Limited & Ferbine Private Limited. Tata Chemicals shares closed 0.59% down at Rs 895.20 on the BSE today.