Ratan Tata bids adieu, Cyrus Mistry takes over

Dec 31 2012, 18:16 IST
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Iconic corporate leader Ratan Tata, who turned 75 today, retires as Chairman of Tata Group after a 50-year run. Iconic corporate leader Ratan Tata, who turned 75 today, retires as Chairman of Tata Group after a 50-year run.
SummaryIconic leader, who turned 75 today, retires as Chairman of Tata Group after 50-year run.

to big-ticket acquisitions, Tata also displayed sensitivity to the needs of the burgeoning middle class with the launch of the Rs one lakh Nano battling the odds in West Bengal.

The group was forced to shift the project from Singur, where he was invited by Marxist Chief Minister Buddhadeb Bhattacharya, to Sanand in Gujarat at the invitation of Narendra Modi.

Although Nano could not live up to the expectations after its initial worldwide acclaim, the small car will still be remembered as Tata's desire to provide a "safer" option to many Indian lower-middle class families riding two-wheelers.

In a recent interview to PTI, Tata has said that Singur was a "great disappointment" because he went there "in a leap of faith" thinking that part of the country was being ignored industrially. Tatas will still go to West Bengal someday, he has said.

Under Tata, the group also made great strides when it capitalised on the sunrise industry of information technology in the 90's. With revenues of over USD 10 billion in 2011-12, Tata Consultancy Services (TCS) is today India's largest IT company, ahead of giants in the field like Infosys and Wipro.

On his post-retirement plans, 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.

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