Ratan Tata was a beacon of Ethics in business. He is a great Industrialist, Philanthropist, a leader and a mentor. He played a key role in transforming Tata group from a domestic company to a global powerhouse in Automobiles and Information Technology sectors. He played a major role in the growth of Indian economy, trade and industry. A major portion of his financial wealth was put to the service of the global community.
Ratan Naval Tata was honoured with the Padma Vibhushan (the 2nd highest civilian honour) and the Padma Bhushan (3rd highest civilian honour) by the Indian government.
Ratan Tata was born on 28th December 1937 in Mumbai. He was 86 years old when he breathed last. He passed away on Wednesday at in Mumbai Hospital. The final rites of Ratan Tata were performed with full state honors on Thursday evening.
Ratan Tata was the son of Naval Tata, who was adopted by Ratanji Tata.
He became chairman of the $100 billion steel-to-software conglomerate in 1991 and ran the group founded by his great-grandfather more than a hundred years ago until 2012. Ratan Tata succeeded J R D Tata as chairman of Tata Sons.
Tata led the Tata Group for 21 years. During his tenure, revenue grew over 40 times and profit by 50 times. He was the spearhead in the development of the Tata Nano car. He resigned his executive powers in the Tata group on 28 December 2012. Under his tenure, the Tata Group acquired Tetley, Jaguar Land Rover, and Corus thus making TATA Group one of the global gaint in business.
With no successor appointed by Tata before his death, the responsibility of selecting the new chairman now lies with the board of trustees. The person holding the Chairman post at Tata Trusts will play a crucial role in the group’s affairs and future growth.