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End of an Era: Ratan Tata retires

Discussion in 'Non FIAT Cars and two wheelers' started by ramjn, Dec 28, 2012.

  1. ramjn

    ramjn Staff Member Janitor

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    Chennai
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    Ratan Tata, who led the transformation of the 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, Mr. Tata, who turns 75 on December 28 (2012), will hand over the reins of the group to 44-year-old Cyrus Mistry.

    His vision to transform the group into a multi-national giant resulted in high profile acquisitions such as Tata Tea’s takeover of U.K. brand Tetley for $450 million in 2000. But Mr. Ratan Tata set new standards for the Indian corporates in the current era of globalisation when Tata Steel acquired Anglo-Dutch rival Corus for 6.2 billion pounds beating CSN of Brazil in 2007.

    A year later, the group’s automotive firm Tata Motors lapped up British luxury vehicle maker Jaguar Land Rover for $2.3 billion from Ford Motor Co.

    Even as Mr. Tata was concentrating on activities abroad, he came up with the idea of producing the world’s cheapest car when he conceived the ‘Rs.1 lakh’ small car Nano.

    On his post-retirement plans, Mr. Tata, a bachelor, has said he will spend time on technology which is quite a passion with him. He will brush up on his piano, which he learnt as a school boy and pursue flying, apart from his focus on philanthropic activities.

    Read full news here - The Hindu : Business / Companies : Ratan Tata retires today
    Last edited: Dec 28, 2012
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  2. MihirC

    MihirC Amatore

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    206
    Mumbai
    He will still be a ED or a honorary director right?

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