Asia’s Businesses Struggle to Shake Off the Sway of Their Founding Families

A storied Indian conglomerate that owns the country’s biggest outsourcing firm and makes millions of iPhones for Apple is in the middle of a leadership shake-up that has highlighted the challenges facing India’s family-founded behemoths.

Last week Natarajan Chandrasekaran announced he would step down as chairman of Tata Sons. The highly regarded veteran was the first chair of the company with no ties to the family that founded the group’s first ventures over a century ago. He was widely expected to be reappointed to a third term.