TCS slides 5% after Chandrasekaran says he won't seek another Tata Sons term

Tata Sons chairman N Chandrasekaran told the board on 12 August that he will not seek reappointment when his term ends on 20 February 2027, after a proposal to extend him five more years stalled for six months over one director's objection. TCS shares fell nearly 5%, and other Tata group stocks slid on succession uncertainty.