9th October 2024, is the day when the Ratan of India Inc passed away and the nation submerged in deep mourning for the 86-year-old former Chairman of Tata Group. He was known for his shy and modest demeanor. The adored industrialist was admitted to the Breach Candy hospital for routine age-related checkups, on Monday. However, he was transferred to ICU (Intensive Care Unit) just hours before his death.
The Tata Group confirmed the passing of Tata through an official statement on X by RPG Group head Harsh Goenka.
Who Will Succeed Ratan Tata?
Tata’s absence leaves a huge hole and makes the succession now a more pressing issue, especially since he had no children. With his passing, a crucial question arises: who will take over the leadership of the vast INR 30 lakh crore Tata Group?
The Tata Group, however, has put a clear succession plan in place. In 2017, N Chandrasekaran was named Chairman of Tata Sons, the group’s holding company. Furthermore, various members of the Tata family are assuming leadership roles across various divisions, positioning themselves for the future.
Noel Navel Tata
Amongst the prominent personalities is, Noel Naval Tata, Tata’s half-brother. Noel is viewed as Tata’s potential successor. Noel holds a considerable position in Tata Group as he has worked with the firm for four decades. He is the Chairman of Trent, Tata International, Voltas, and Tata Investment Corporation, as well as Vice Chairman of Tata Steel and Titan Company. He is also a trustee for the Sir Dorabji Tata and the Sir Ratan Tata Trusts.
Neville, Maya, and Leah, Noel’s children are also leaving their imprint, establishing their paths in the business.
N Chandrasekaran- Current Head of Tata Sons
Following the dismissal of Cyrus Mistry, in 2017, N Chandrasekaran took the helm of Tata Sons. At that time, many believed that a Tata would succeed another Tata, with Ratan Tata’s stepbrother, as a likely contender. However, that did not transpire, and Chandrasekaran took over the leadership role.
Many viewed him as Ratan Tata’s notable choice when he was the CEO of Tata Consultancy Services (TCS). Under his leadership, Tata Group consolidated a profit of INR 64,267 crore in 2022, up from INR 36,728 crore in 2017.
Emerging Generation of Tata Family
Leah Tata, the eldest holds a master’s degree in marketing from the IE Business School in Madrid, Spain. She began her career with Tata Group in 2006 at Taj Hotels Resorts & Palaces as an assistant sales manager. Since then, she advanced her way to Vice President at The Indian Hotels Company Limited (IHCL).
Maya Tata, the middle child, began her work as an analyst at Tata Capital. She is advancing the organizational ladder and is anticipated to take on a more significant role in the future.
Neville Tata, is the youngest of the three siblings. Neville started his career at Trent, the retail company his father helped build. With a strong connection to the company’s retail division, industry observers are keeping a careful eye on his future there.
Ratan Tata’s Legacy
Ratan Tata assumed the role of chairman in 1991, overseeing the enterprise that his great-grandfather founded more than a century prior. During his tenure, he founded Tata Teleservices in 1996 and managed the public listing of Tata Consultancy Services (TCS).
Even after stepping down as chairman in 2012, he holds the honorary title of Chairman Emeritus for numerous Tata firms. He continued to oversee the Tata Trusts, a prominent force in Indian philanthropy. Because of his notable contributions to the industry, he earned India’s highest civilian awards, the Padma Bhushan in 2000, and the Padma Vibhushan in 2008.
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Naina Jaggi is an author deeply rooted in Journalism, mainly writing on lifestyle, entertainment, travel, politics and financial markets. This diverse experience has allowed her to blend rich details with engaging narratives that capture the essence of various worlds. When she is not crafting tales, you’ll find her immersed in music and enjoying the company of dogs. She is also into K-dramas, thriller and horror movies that fuel her imagination, bringing the same spark to her stories.
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