Full Coverage: Ratan Tata
More 7 years after a town on the Punjab-Haryana border witnessed the biggest fire in terms of casualties in the country
Iconic leader, who turned 75 today, retires as Chairman of Tata Group after 50-year run. Now Mr RNT lays down the reins of the Tata empire exactly on the date he had set for himself more than a decade ago, on his turning 75. Ratan Naval Tata steps down as chairman of Tata Sons today. Cyrus Mistry was chosen his successor last year and formally appointed Chairman earlier this month. Rise of Mistry to helm of Tata reinforces clout Parsis wield in some of biggest conglomerates. Culture and continuity have prevailed in the Tata Group's search for a new chairman. Cyrus Mistry often visits Pune where the family’s Shapoorji Pallonji Group owns a mansion at Koregaon Park called the White House for its tall white columns and impressive white façade. The neatly managed succession process at Tata Sons holds lessons for the private sector His surname may not be Tata, but Cyrus Mistry is as close as an outsider could come. A number of Tata stocks opened on a strong note today, but could not sustain the gains. Shares of Forbes & Co, the only listed company of Shapoorji Pallonji group, surged today. Mistry, MD of the Shapoorji Pallonji Group, has been a director of Tata Sons since August 2006 Cyrus Mistry is the second person from outside the Tata family to head the group in 142 years. He was appointed on the board of Tata Sons in 2006 and has gained close familiarity with the group since then. However, people who know him agree with the decision. It’s Cyrus Mistry who will step into Ratan N Tata’s shoes to head the $73-billion Tata conglomerate. Much like the legendary JRD Tata, who believed that his protégé Ratan Tata was blessed with a modern mind, it would seem that Mistry’s youth and his closeness to the group tipped the scales in his favour. When Ratan Naval Tata took over the reins of the Tata empire in 1991 from the iconic JRD Tata at the age of 54, the Tata Group had revenues of just $2 billion. Cyrus Pallonji Mistry will bring the right mix of expertise and continuity in tradition which are so essential to take forward the over $70-billion salt-to-software conglomerate as it tries to consolidate its position. Come December 2012, 43-year-old Cyrus Pallonji Mistry will don a new hat.