With effect from May 29, Tata Sons Chairman N. Chandrasekaran will step down as Director and Chairman of Tata Chemicals, the company told stock exchanges on Wednesday.

With effect from May 30, S Padmanabhan, an existing Director, was named the new Chairman after the Board accepted his resignation. Modan Saha has also been named an Additional Director, with effect from 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.

During a time of strategic change and realignment within the Tata Group, Chandrasekaran served as Chairman of Tata Chemicals.

“The company has taken on record the request received from Mr. N Chandrasekaran via 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,” the company stated in a stock exchange filing.

With effect from May 28, Saha has been appointed as an Additional Director (Non-Executive, Non-Independent) in accordance with the Nomination and Remuneration Committee’s recommendations.

At Tata Sons, Saha is now in charge of a few strategic initiatives. He formerly served as Tata Digital’s founding director and CEO of financial services.

He served as the CEO of the Tata Strategic Management Group, which assists the Tata Group Chairman’s Office and Tata Group enterprises with strategy and transformation projects, before joining Tata Digital.

Saha had a variety of positions in the financial services industry with organizations such as ICICI Bank, Axis Bank, and UBS Singapore.