Ratan Tata to retire in 2012 ? Global search begins

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RatanTata, 71 will soon retire and the search for his successor has already begun. Tata said that the group has already appointed outside consultants to look for a successor with the integrity and the value systems in the forefront.

CJ: Rohit S

Wed, Nov 18, 2009 18:30:21 IST

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RATAN NAVAL Tata, 71 will soon retire and the search for his successor has already begun. Ratan Tata, the chairman of the Tata Group, is looking for a successor to him. With Tata retiring it would bring down the curtain on an era that witnessed one of India's most respected businessmen at the helm of the Tata Group.

Rata Tata an urbane intorverted bachelor lives in South Mumbai and is expected to retire and step down in 2012. The retirement age for non-executive directors at Tata Sons, the group holding company was raised frrom 70 to 75 in the year 2006 - mainly becasue of the absence of a natural successor.

Tata, the winner of a numberous awards and recognition has many succes stories to his name when he steered the group. Some major stories are the Tata Steel's acquisition of Dutch Steel Major Corus in 2007, Tata Motor's taking over UK's Jaguar Land rover and the laucnh of People's Rs. 1 lakh Nano car.

Tata said that the group has already appointed outside consultants to look for a successor with the integrity and the value systems in the forefront. They believe and hope that the successor would walk on the same path as Tata and carry things forward for the company's growth.

Ratan Tata's successor would either be from within the Tata organisation or from outside. Tata said that it would have been easier if it were an Indian National. But he added that as 65 per cent of their group revenue comes from overseas, it could well be an expatriate sitting in that position with justification now.

The Tata group has 98 operating companies and has an annual revenue of $71 billion and 3,57,000 employees according to its website. The Tata group was founded in 1868 and has been a prominent leader in all fields. It is India's top vehicle maker, top software services firm, top private sector power producer and also world's eight largest steel maker output in its stable.