New Delhi, Delhi
The National Stock Exchange (NSE) has officially clarified reports suggesting that its Managing Director and CEO Ashishkumar Chauhan could become the next Chairman of Tata Sons. The exchange has rejected media reports that named Chauhan among the potential candidates for the position.
In a regulatory filing made on Sunday, September 6, under the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations, NSE said there was no factual basis to reports regarding Chauhan’s alleged candidature for the Tata Sons Chairman position.
The clarification came after a media report published on September 5 discussed potential candidates for the next Tata Sons Chairman and described Ashish Chauhan as an unexpected contender, or a “dark horse.”
According to NSE, Chauhan himself has also described the reports as speculative and factually incorrect. In an email sent to officials, he said that his complete focus is currently on his responsibilities as the MD and CEO of NSE.
Chauhan specifically highlighted NSE’s upcoming IPO and its listing process. He said he remains fully committed to working with the board and shareholders to ensure the successful listing of NSE and achieve other related objectives.
NSE has urged its stakeholders not to rely on media reports or market rumours concerning Chauhan’s alleged candidature. The exchange said it has been making the necessary disclosures under the SEBI LODR Regulations and will continue to do so.
The clarification from NSE comes at a time when the exchange is preparing for its proposed IPO. Against this backdrop, the exchange considered it necessary to provide regulatory clarification regarding speculation surrounding Chauhan’s position and his alleged prospects of becoming the next Tata Sons Chairman.
