“I don’t believe in taking right decisions. I take decision and then make them right”
To the outside world, Ratan Tata is more known as chairman, Tata Sons, which is the holding company of the group. But those close to him have noticed Tata play another role with equal zeal over the last 21 years – that of chairman, Tata trusts, the founding family’s group of philanthropy bodies.
Ratan Naval Tata, was born on 28 December 1937, became chairman of the Tata Group (1991–2012), a Mumbai-based conglomerate. He is a member of a prominent Tata family of Indian industrialists and philanthropists. Tata is the adoptive great-grandson of Tata group founder Jamshedji Tata. His father, Naval Tata, had been adopted from the family of a distant relative by Jamshedji's childless younger son, also named Ratan Tata. Tata began his schooling in Bombay at Campion School, Bishop Cotton School, Shimla and finished at Cathedral and John Connon School. He completed his B.S. in architecture with structural engineering from Cornell University in 1962, and the Advanced Management Program from Harvard Business School in 1975.
Tata began his career in the Tata group in 1962; he initially worked on the shop floor of Tata Steel, shovelling limestone and handling the blast furnace. After serving in various companies, he was appointed Director-in-charge of the National Radio and Electronics Company in 1971. In 1981, he was named Chairman of Tata Industries, the group’s other promoter holding company, where he was responsible for transforming it into a group strategy think-tank, and a promoter of new ventures in high technology businesses. In 1991, JRD Tata stepped down as Tata Industries chairman, naming Ratan as his successor. He was heavily criticized for lacking experience in running a company of the scale of Tata Industries. Ratan N Tata has been the Chairman of Tata Sons, the promoter holding company of the Tata group, since 1991. He is also the Chairman of the major Tata companies, including Tata Motors, Tata Steel, Tata Consultancy Services, Tata Power, Tata Global Beverages, Tata Chemicals, Indian Hotels and Tata Teleservices. During his tenure, the group’s revenues have grown manifold, totalling over $100.09 billion in 2011-12. Upon assuming leadership of the conglomerate, Tata aggressively sought to expand it, and increasingly he focused on globalizing its businesses. In 2000 the group acquired London-based Tetley Tea for $431.3 million, and in 2004 it purchased the truck-manufacturing operations of South Korea’s Daewoo Motors for $102 million. In 2007 Tata Steel completed the biggest corporate takeover by an Indian company when it acquired the giant Anglo-Dutch steel manufacturer Corus Group for $11.3 billion. In 2008 Tata oversaw Tata Motors’ purchase of the elite British car brands Jaguar and Land Rover from the Ford Motor Company. The $2.3 billion deal marked the largest-ever acquisition by an Indian automotive firm. Acquisition of Corus have turned Tata from a largely India-centric company into a global business, with 65% revenues coming from abroad. He also pushed the development of Indica and the Nano.
Ratan Tata retires from all executive responsibility in the Tata group on 28th December 2012. He is succeeded by Cyrus Mistry, the 44-year-old son of Pallonji Mistry and managing director of Shapoorji Pallonji Group. It is the third scheduled retirement for Ratan Tata. The Tata Group has been at this inflection point twice earlier, and stepped back both times. In 2002, when Tata was to retire at 65, the Tata Sons board promptly redesignated him non-executive chairman, which meant he could continue for another five years. Three years later, the board upped the retirement age of non-executive directors to 75. The message is clear: Ratan Tata is indispensable.
Tata received the Padma Bhushan, one of India’s most distinguished civilian awards, in 2000 . The Government of India honoured Mr Tata with its second-highest civilian award, the Padma Vibhushan, in 2008. He has also received honorary doctorates from several universities in India and overseas. He was awarded Lifetime Achievement Award by prestigious Rockefeller Foundation in 2012. Ratan Tata has served in various capacities in organisations in India and abroad. He is a member of the Prime Minister's Council on Trade and Industry. Tata is on the board of governors of the East-West Center, the advisory board of RAND's Center for Asia Pacific Policy and serves on the program board of the Bill & Melinda Gates Foundation's India AIDS initiative.
Ratan Naval Tata, was born on 28 December 1937, became chairman of the Tata Group (1991–2012), a Mumbai-based conglomerate. He is a member of a prominent Tata family of Indian industrialists and philanthropists. Tata is the adoptive great-grandson of Tata group founder Jamshedji Tata. His father, Naval Tata, had been adopted from the family of a distant relative by Jamshedji's childless younger son, also named Ratan Tata. Tata began his schooling in Bombay at Campion School, Bishop Cotton School, Shimla and finished at Cathedral and John Connon School. He completed his B.S. in architecture with structural engineering from Cornell University in 1962, and the Advanced Management Program from Harvard Business School in 1975.
Tata began his career in the Tata group in 1962; he initially worked on the shop floor of Tata Steel, shovelling limestone and handling the blast furnace. After serving in various companies, he was appointed Director-in-charge of the National Radio and Electronics Company in 1971. In 1981, he was named Chairman of Tata Industries, the group’s other promoter holding company, where he was responsible for transforming it into a group strategy think-tank, and a promoter of new ventures in high technology businesses. In 1991, JRD Tata stepped down as Tata Industries chairman, naming Ratan as his successor. He was heavily criticized for lacking experience in running a company of the scale of Tata Industries. Ratan N Tata has been the Chairman of Tata Sons, the promoter holding company of the Tata group, since 1991. He is also the Chairman of the major Tata companies, including Tata Motors, Tata Steel, Tata Consultancy Services, Tata Power, Tata Global Beverages, Tata Chemicals, Indian Hotels and Tata Teleservices. During his tenure, the group’s revenues have grown manifold, totalling over $100.09 billion in 2011-12. Upon assuming leadership of the conglomerate, Tata aggressively sought to expand it, and increasingly he focused on globalizing its businesses. In 2000 the group acquired London-based Tetley Tea for $431.3 million, and in 2004 it purchased the truck-manufacturing operations of South Korea’s Daewoo Motors for $102 million. In 2007 Tata Steel completed the biggest corporate takeover by an Indian company when it acquired the giant Anglo-Dutch steel manufacturer Corus Group for $11.3 billion. In 2008 Tata oversaw Tata Motors’ purchase of the elite British car brands Jaguar and Land Rover from the Ford Motor Company. The $2.3 billion deal marked the largest-ever acquisition by an Indian automotive firm. Acquisition of Corus have turned Tata from a largely India-centric company into a global business, with 65% revenues coming from abroad. He also pushed the development of Indica and the Nano.
Ratan Tata retires from all executive responsibility in the Tata group on 28th December 2012. He is succeeded by Cyrus Mistry, the 44-year-old son of Pallonji Mistry and managing director of Shapoorji Pallonji Group. It is the third scheduled retirement for Ratan Tata. The Tata Group has been at this inflection point twice earlier, and stepped back both times. In 2002, when Tata was to retire at 65, the Tata Sons board promptly redesignated him non-executive chairman, which meant he could continue for another five years. Three years later, the board upped the retirement age of non-executive directors to 75. The message is clear: Ratan Tata is indispensable.
Tata received the Padma Bhushan, one of India’s most distinguished civilian awards, in 2000 . The Government of India honoured Mr Tata with its second-highest civilian award, the Padma Vibhushan, in 2008. He has also received honorary doctorates from several universities in India and overseas. He was awarded Lifetime Achievement Award by prestigious Rockefeller Foundation in 2012. Ratan Tata has served in various capacities in organisations in India and abroad. He is a member of the Prime Minister's Council on Trade and Industry. Tata is on the board of governors of the East-West Center, the advisory board of RAND's Center for Asia Pacific Policy and serves on the program board of the Bill & Melinda Gates Foundation's India AIDS initiative.
Trivia
- Ratan Tata grew up in the south Mumbai mansion that now houses Deutsche Bank, driven to school in a Rolls Royce.
- He is unmarried.
- Upon graduating he turned down an offer from IBM on the advise of JRD Tata.
- Started his career with Tata Steel on the shop floor.
- His favourite allies are his German Shepherds.
- His newly-famous quote is, "I came close to getting married four times".
- Thorn in his side, his connection with the 2G spectrum scam.
- He owns a Falcon Jet which he likes to pilot himself sometimes.
References: Wikipedia; Forbes India; Economic Times; Tata.in
Photo Courtesy: Google Images
Photo Courtesy: Google Images