'Speculative and factually incorrect': NSE denies Ashishkumar Chauhan being considered for Tata Sons chairman post

The National Stock Exchange (NSE) on September 6 denied media reports that its Managing Director and CEO Ashishkumar Chauhan is being considered for the position of Chairman of Tata Sons, PTI reported.

The clarification came after a news agency report mentioned Chauhan as a "dark horse" for the post.

NSE says reports are speculative, factually incorrect

In its clarification, NSE said the reports were not based on any information available with the exchange and that Chauhan had categorically denied them.

"Chauhan has categorically denied such reports and confirmed that they are speculative and factually incorrect," the exchange said.

Chauhan, who heads NSE as its MD and CEO, also wrote to the exchange, describing reports linking him to the Tata Sons chairman position as "entirely baseless, speculative and factually incorrect".

Chauhan focused on NSE IPO

Chauhan said he remains committed to his responsibilities at NSE, particularly its planned initial public offering (IPO).

"I am fully committed to working closely with the Board and its shareholders to achieve the successful listing of the company and other associated objectives," he said.

He added that he was "completely engaged" in what he described as the most important listing process for NSE.

NSE is preparing for its long-awaited IPO, making the exchange's leadership significant as it moves towards the listing process.

Why is Tata Sons looking for a successor?

N Chandrasekaran, who took over as Chairman of Tata Sons in 2017 and is currently serving his second five-year term, announced last month that he would not seek reappointment after his tenure ends on February 20, 2027.

Chandrasekaran informed the Tata Sons board of his decision on August 12. His departure comes as the Tata Group remains in the midst of a major investment cycle spanning businesses such as Air India, semiconductors, electronics manufacturing, electric mobility and digital ventures.

Before taking charge of Tata Sons, Chandrasekaran spent nearly three decades at Tata Consultancy Services (TCS), where he became CEO and managing director in 2009. He assumed the Tata Sons chairmanship on February 21, 2017, and was reappointed for a second five-year term in 2022.

His tenure has included some of the Tata Group's biggest strategic moves, including the acquisition of Air India and expansion into semiconductors, electronics, electric vehicles, batteries and digital businesses.

Chandrasekaran's decision does not mean he is leaving Tata Sons immediately. He will continue as chairman until the end of his current term in February 2027.