29.12.12

Ratan Tata retires


Ratan Tata,who led the transformation of Tata Group from a conventional corporate house into a $100 billion global conglomerate with high-profile acquisitions abroad,will retire on Friday,ending a 50-year run in one of India's oldest business empires.
Marking a generational change, Tata, who turns 75 on Friday, will hand over the reins of the group to 44-year-old Cyrus Mistry, who was chosen his successor last year and formally appointed chairman this month.
Tata is hanging up his boots after steering the group for 21 years as its chairman, when he succeeded the legendary JRD Tata. “I have devoted my life,as best I could,to the welfare of the group,” Tata said. The media-shy mogul, who spent 50 years with the company,is likely to mark his last day at the helm in the unassuming manner in which he took over from JRD Tata.




Ratan Tata, who retired as the Chairman of Tata Group on Friday, kept away from the Bombay House headquarters of the USD 100 billion group on his farewell day to spend time with the employees of various manufacturing facilities of Tata Motors in Pune.
“At the request of the union, I spent the day - my last day prior to retirement, in the Tata Motors’ various manufacturing facilities at Pune to say farewell to my shop floor colleagues. We have been together in good times and bad and have gained closeness based on mutual trust,” tweeted Tata, who stepped down after a 50-year run.
He said in his twitter message that going to the plants and receiving greetings from so many colleagues is a great emotional experience.
“I have been deeply moved by the sincerity and spontaneity of their greetings.I will always carry memories of this day with me through the rest of my life,” Tata said.

No comments: