Ratan Tata | 1937 – 2024
Ratan Tata, the former chairman of Tata Group, passed away at the age of 86 in a Mumbai hospital ICU. He established the Indian group on a global scale through major acquisitions. His death was announced by Tata Group in a statement on Wednesday night. Ratan Tata led the group for over 20 years and remained involved in its operations even after retirement.
In Short:
- Remarkable leader
- Began contributing to the group in 1962
- Acquired management post JRD Tata’s retirement in 1991
- Tata from semiconductors to salt
- Tata empire – a group of Large global brands
- 10 lakh people employment
- The first and least expensive automobile
- Disagreement with the successor
- Tata’s 26 firms listed on the stock exchange.
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How are the trusts owned by Tata Sons run?
Ratan Tata
Remarkable leader
After Ratan Tata’s death, the Tata Group and Indian Prime Minister Narendra Modi expressed their deep sadness and respect for him. Tata was praised as an exceptional leader whose impact exceeded the business world, leaving a lasting legacy on both the company and the nation.
Began contributing to the group in 1962
Ratan Tata, after studying architecture at Cornell University in the US, joined the Tata Group in India in 1962. He worked in various companies, like TELCO and Tata Steel, before turning around National Radio and Electronics Company.
Acquired management post JRD Tata’s retirement in 1991
In 1991, Ratan Tata took over as chairman of Tata Sons, leading the Tata Group until December 2012. During this time, India experienced economic reforms, opening up to global investment and experiencing significant development. Tata implemented changes within the group, setting retirement ages and promoting young talent to senior roles, increasing his control over the companies.
Tata from semiconductors to salt
Tata Group operates numerous large companies including Air India, TCS, Tata Motors, Tata Salt, Tata Tea, Jaguar Land Rover, Titan, and more. Their market cap exceeds Pakistan’s GDP, surpassing $400 billion in July 2024.
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Tata empire – a group of Large global brands
Ratan Tata founded Tata Teleservices and took over Tata Consultancy Services in 1996. Under his leadership, the group went public in 2004 and expanded globally through acquisitions, including Tetley and Corus. Tata Motors acquired Jaguar and Land Rover from Ford in 2008 for $2.3 billion, the largest foreign acquisition by an Indian company at the time.
10 lakh people employment
Tata Group has 10,28,000 employees globally, with 6,15,000 at TCS. Under Ratan Tata’s leadership, turnover increased 40 times, profits 50 times, with a Rs 3800 crore net worth.
The first and least expensive automobile
Ratan Tata led domestic projects at Tata Motors with the Indica and Nano, the first Indian-made car and world’s cheapest car. While the Indica succeeded commercially, safety issues and marketing mishaps led to the Nano’s discontinuation despite Tata’s dream of affordable cars for India.
Disagreement with the successor
Ratan Tata’s leadership at Tata has faced controversy, including conflicts with Cyrus Mistry, his chosen successor. Mistry was removed as Tata Sons chairman in 2016 due to underperformance allegations.
Tata’s 26 firms listed on the stock exchange
The Tata Group, founded by Jamsed Ji Tata in 1868, comprises 30 companies across ten sectors. It operates in over 100 countries across six continents, with 26 listed on stock exchanges. The group has a total revenue exceeding $165 billion and a combined market capitalization of over $365 billion as of March 31, 2024.
How are the trusts owned by Tata Sons run?
There are five main trusts in the Tata Group, owning 66% of Tata Sons, which oversees the entire corporate empire. These generous trusts, led by Ratan Tata, include the Sir Dorab ji Tata Trust and the Sir Ratan Tata Trust, with Vijay Singh as vice chairman.
Also Read: Complete chronology
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