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INTRODUCTION TO TATA GROUP
The Tata Group is a multinational conglomerate company headquartered in Mumbai, India. In terms of market capitalization and revenues, Tata Group is the largest private corporate group in India and has been recognized as one of the most respected companies in the world. It has interests in steel, automobiles, information technology, communication, power, tea and hospitality. The Tata Group has operations in more than 85 countries across six continents and its companies export products and services to 80 nations. The Tata Group comprises 114 companies and subsidiaries in seven business sectors, 27 of which are publicly listed. 65.8% of the ownership of Tata Group is held in charitable trusts. Companies which form a major part of the group include Tata Steel, Corus Steel, Tata Motors, Tata Consultancy Services, Tata Technologies, Tata Tea, Titan Industries, Tata Power, Tata Communications, Tata Teleservices and the Taj Hotels.
Ratan Naval Tata (born December 28, 1937, in Surat) is the present Chairman of the Tata Group, India's largest conglomerate founded by Jamsedji Tata and consolidated and expanded by later generations of his family.
RATAN TATA AFTER YEARS OF HARD WORK WANTS TO RETIRE AND THUS SEARCH FOR HIS APPROPIATE SUCCESSOR BEGANâ€¦â€¦
Tata group starts search for Ratan Tata's successor
The Tata group, India's oldest and best-known conglomerate, is looking for a successor to its chairman, Ratan Tata, and is considering people from overseas to lead a business empire ranging from salt and steel, to cars and software.Ratan Tata, who took the company global and made the world's cheapest car, will retire by the end of 2012. The firm's holding company has set up a panel that will search for a replacement within and outside the group, for Tata, who is also chief executive.With annual revenue of more than $70 billion, and with 357,000 employees worldwide, Tata group's 98 operating companies derive more than 65% of revenue from overseas.
Group not pushing me out, my desire to quit: Ratan Tata
Asserting that he was not being pushed out as Chairman of the USD 71 billion conglomerate Tata Group, Ratan Tata said that he opted out of the selection committee to avoid giving the impression that he is influencing the succession plan.
"I don't want to leave the company in a wheel chair or in a box," Ratan Tata told a television news channel in an interview.
"The company is not pushing me out. It is my desire," he said.
The comments come in the backdrop of Tata Group's holding company, Tata Sons, looking for a successor to Ratan Tata. The next chairman's name is expected to be finalised by March, 2011.In August, a five-member panel was set up to search for a successor, for which Ratan Tata's half-brother Noel Tata is speculated to be a strong contender. "I have chosen to stay off that (search) committee... the committee has the freedom to examine and not have anyone feel that I am driving the succession plan," Ratan Tata said.
The search process would be conducted by the committee comprising former Tata Sons Vice Chairman N A Soonawala, senior group directors R K Krishnakumar and Cyrus Mistry, group adviser and lawyer Shirin Bharucha and influential British businessman Lord Bhattacharya.
"I think in the course of this coming year, a suitable person will be announced...," Ratan Tata said in the interview.
Ratan Tata, who will retire as chairman in December, 2012, said that he "is looking forward to freedom to find time to do things that I always wanted to do".
IN THIS CONTEXT RATAN TATA EXCLAIMES THAT THE TATA GROUP IS NOT FORCING HIM TO RETIRE BUT IT IS HIS WISH .THERE IS NO PRESSURE WHATSOEVER UPON HIM.HE TRUSTS HIS COMMITTEE AND HAS GIVEN THEM FULL FREEDOM BY STAYING OFFLINE.
2. Five-member panel to pick Ratan Tata's successor formed
ByÂ Rakesh Khar,Â Vikas Srivastav Aug 04 2010 , Mumbai/New Delhi
The Tata group's holding company, Tata Sons, on Wednesday announced the setting up ofÂ a five-member panel, including one external member, to choose a suitable successor to Ratan Naval Tata who is retiring in December 2012.
The move comes within days of Noel Tata's elevation as head of Tata International. Noel Tata, half brother of Ratan Tata, is a possible, though not the obvious, candidate.
Tata Sons said in a statement that its board had formed a selection committee which was in the process of formulating criteria for identifying the most suitable candidate, taking into account the global nature and complexity of the group's business.
The statement said the group would require someone with experience and exposure to direct its growth amid the challenges of the global economy. "The selection process for a prospective candidate would consider suitable persons from within the Tata companies and other professionals in India as well as persons overseas with global experience," it said.
India's most celebrated chronicler of family run businesses, who has written on Tata group and Ratan Tata and who did not wish to be identified by name in this report, said, "To my mind this (the Tata move) is going to be close to the GE model. I see a lot of similarities between GE and the Tata group, both are in the B2B and B2C space, and have diverse multi-lingual, mutli-locational and multi-pronged businesses. They too had a committee to choose the successor. The GE model is a very good template."
The former director of IIM-Ahmedabad, Bakul Dholakia, said, "I think the Tata decision to set up a committee is a welcome move in the Indian context, for it brings in transparency. Nobody forced it on the company. This, indeed, as and when the plan gets through, would be a benchmark given the kind of diverse businesses, diverse locations, and diverse in-house talent available in the group. Indian family-run businesses, most of which have relatively younger bosses (Reliance Industries, ADAG, the Aditya Birla group and Bharti), would learn a lot from the Tata plan. This is a nice beginning."
IN THIS ARTICLE BY Rakesh Khar, Vikas Srivastav THEY HAVE STATED THAT A FIVE MEMBER COMMITTEE WOULD BE SET UP FOR THE SEARCH OF RATAN TATA'S SUCCESSOR AND ACCORDING TO THEM ITS A GREAT THOUGHT FOR THE TATA GROUP. The former director of IIM-Ahmedabad, Bakul Dholakia ALSO STATED THAT THIS DESION IS A WELCOME MOVE IN THE TATA GROUP AND SHOWS ITS TRANSPERACY IN THE TATA GROUP.AND HE THINKS THAT IT IS A GREAT MOVE IN THE INDIAN CONTEXT .
3.Indra Nooyi rules herself out of Tata succession race
ByÂ PTI Aug 29 2010 , New Delhi
Tags:Â Indra Nooyi r,Â Ratan Tata,Â News
PepsiCo Chairman and Chief Executive Officer, Indra Nooyi, who has been speculated to be among the possible candidates to succeed Ratan Tata as Chairman of the Tata Group, has ruled herself out of the race saying she "loves" her present job.
"Ratan is an unbelievable person. He has got an incredible stable of people who can succeed him. I am running one of the greatest companies in the world, PepsiCo. I love my job," Nooyi told PTI when asked about the speculation linking her to the top job at the USD 71 billion Indian salt-to- software conglomerate.
The Chennai-born chief of the world's leading company in convenient snacks, foods and beverages, with revenues of more than USD 60 billion and over 285,000 employees, however, was all praise for the Tata Group.
"Tata is an unbelievable company. It is a nation-building enterprise, a phenomenal enterprise, the face of India," Nooyi said.
While Ratan Tata's 52-year-old half brother Noel Tata has been speculated to be the front-runner, Nooyi and another global business leader, Carlos Ghosn, the Chairman and Chief Executive Officer of Renault-Nissan Alliance, have been mentioned as suitable candidates.
IN THIS ARTICLE STATED IN THE PTI INDRA NOOYI HAS STATED THAT SHE IS OUT FROM THE RACE FOR TATA'S SUCCESSOR AND IS HAPPY WITH HER JOB.INDRA NOOYI IS THE CHAIRMAN OF PEPSICO. ONE OF THE LEADING SNACKS AND SOFTDRINKS MAKER.SHE ALSO QUOTES THAT TATA HAS MANY MORE ABLE AND HARDWORKING PERSON THAN HER.LATER SHE PRAISES TATA CORPORATION AS ONE OF THE MOST PHENOMENOL ENTERPRISES IN THE WORLD .
4. THE HIMALAYAN TIMES
Planning for succession
NEW DELHI: Ratan Tata, chairman of the Tata Group will be retiring in December 2012. He decided and declared long ago that he would be passing on the mantle on his 75th birthday. The D day is still two years away. However the planning and preparation for it has already started. The board of Tata Sons has appointed a five member selection committee for selecting a suitable successor.
The mandate to the committee is to identify 'the person' who can step into the shoes of Ratan Tata and lead the company successfully. As per newspaper reports, it is expected that the final selection would be made in "adequate time to effect a smooth transition and change of leadership." Organisations often talk about succession planning and its importance. However, often we find that 'succession planning' remains just jargon and not much planning and effort goes into ensuring 'the continuity' which is so very critical for maintaining the trust and confidence of various stake holders.
IN THIS ARTICLE BY KALPANA ARORA OF THE HIMALYAN TIMES,SHE STATES THAT RTAN TATA AFTER YEARS OF HIS SERVICE TO THE TATA GROUP HAS FINALLY GIVEN HIS RETIREMENT DATE AS ON THE END OF 2012.THE SEARCH FOR SUCCESSOR HAS ALREADY BEEN STARTED AND A FIVE MEMBER COMMITTEE HAS BEEN SET UP TO MAKE THE DESICION.
5. Search for Ratan Tata's successor begins Agencies
Tags : Tata Sons, Ratan Tata
Posted: Wed Aug 04 2010, 18:37 hrs Updated: Wed Aug 04 2010, 20:11 hrs
Tata Sons on Wednesday said it has set up a panel to search for a successor to Group Chairman Ratan Tata, who is due to retire in December 2012.
The move comes within days of elevation of Noel Tata, Ratan Tata's half-brother, as head of the USD 72 billion Group's international operations, lending credence to speculation that he would be annointed the successor.
"The Board of Tata Sons Ltd has formed a selection committee comprising five members, including an external member for eventually deciding on a suitable successor to Ratan N Tata," Tata Sons, the Group's holding company, said in a statement.
It was, however, not clear whether who the members were and queries about Ratan Tata himself being part of the search committee yielded no response from the Group's spokesperson.
Tata, 72, would be hanging his boots in December 2012 when he would turn 75 -- the retirement age fixed by the group with presence in businesses from salt to software.
6.Five wise men to hunt for Ratan Tata's successor
Mumbai:Â Noel Naval Tata's role in the over $71 billion crore salt-to-software conglomerate clearly got bigger last week with his appointment as managing director of Tata International. In the meanwhile, the board of Tata Sons announced on Wednesday it had formed a selection committee, comprising five members, including an external member, to decide on a suitable successor to groups chairman Ratan N Tata, who retires in December 2012 when he turns 75.
"The committee has commenced its work," a press release said, adding that "the selection process for a prospective candidate would consider suitable persons from within the Tata Companies, other professionals in India as well as persons overseas with global experience."
The committee will comprise two directors from the Sir Dorab Tata Trust and the Sir Ratan Tata Trust, two members from the Tata Sons board and one external, non-Tata Group person. The selection committee names being speculated about are NA Soonawala, Keki Dadiseth, Jamshed J Irani, R Gopalakrishnan, AN Singh and the outsider and Ratan Tata's close confidante and Bombay Dyeing Group chairman Nusli Wadia. Ratan Tata will not be a member of the search committee.
Ratan Tata had said in the past that his successor could be an expatriate. "It would be certainly easier if that candidate were an Indian national. But now that 65% of our revenues come from overseas, it could also be an expatriate sitting in that position with justification now that we are a company that has global reach and global presence," Ratan Tata had told The Wall Street Journal last November to a question on how he was conducting the search for his successor
"The successor, I would hope, would have integrity and our value systems in the forefront and hopefully would carry on the path that we have tried to set for the company's growth," Mr Tata had observed. The chairman had indicated to a magazine earlier in 2009 that his successor would need up to 18 months as handover time.
While names, including Indra Nooyi of PepsiCo and Vikram Pandit of Citigroup have been talked about, Noel Tata has been considered a frontrunner for the group chairman's position. Indeed, the stint at Tata International is expected to give the 53 year-old Noel Tata exposure to the group's overseas businesses; he has spent about a decade at Trent, building the retail business. Tata International, a leather and engineering...