The era of Ratan Tata is coming to an end today. Business tycoon Ratan Tata who proved that business can be done with dedication and good morals is retiring today from Tata Group. He will be succeeded by Cyrus Mistry.
Ratan Tata is turning 75 today and as per the rules formed by him, he will be retiring from the Tata Group head quarters.
Ratan Tata began his career as an apprentice in Tata Steel Jamshedpur plant in 1962. In 1991, he became the Chairman of Tata sons. In these 21 years, he expanded the business to various countries. He is praised as one of the efficient businessman with good values.
When he took over in 1991 the group just had a revenue of about 14,000 crore, today its revenue is over 4,75,000 crore. Ratan Tata was born as Ratan Naval Tata in December 1937 and is the adopted great-grandson of Tata group founder Jamshedji Tata.
Padma Bhushan, Global Indian award, Knight Commander of the Order of British Empire, Life achievement award from Rockfeller foundation, doctorates from various national and international universities were awarded for his achievements.
Mistry, who is the managing director of India’s second largest infrastructure company Shapoorji Pallonji Group, had been serving in various non-executive positions on the boards of several Tata companies prior to his selection as Tata’s successor.
Mistry’s family owns the largest individual shareholding of 17 percent in Tata Sons, the promoter company of Tata group. He is the second person without the Tata surname to head the group after Nowroji Saklatwala.
He has also served as a director on board of Forbes Gokak and United Motors (India).