Board Vote on Chandrasekharan’s Third Term Raises Governance Questions

During the September 30 board session, the proposal to extend N. Chandrasekharan’s tenure as executive chairman for another five years was passed using the chairman’s casting vote. Independent director Harish Manwani chaired the discussion, while nominee director Venu Srinivasan supported the move. The trust’s dissent centered on the interpretation of Article 104(b) and Article 121, which govern the distribution of votes among nominee directors.