Ratan Tata steps down from all executive posts

Ratan Naval Tata, the chief of 10.4 billion Tata group, has given up all executive posts. From his current position of executive chairman o...

Ratan Naval Tata, the chief of 10.4 billion Tata group, has given up all executive posts. From his current position of executive chairman of the Tata Group, Tata 8212; who will turn 65 on Saturday 8212; has been appointed as non-executive chairman with effect from Sunday December 29.

Tata will on Sunday become non-executive chairman of Tata Sons, which former chairman JRD Tata was all through his life. Tata who has occupied the positions of chief executive of Tata Engineering Telco and executive chairman of Tata Sons, will no longer hold the executive post here too.

Tata, however, will be continuing as chairman of both in a non-executive capacity. Tata will have to retire from all Tata boards at the age of 70. As per the group8217;s retirement policy, all Tata executives have to step down from executive positions at the age of 65 to a non-executive position. At 70, they retire completely from the company.

According to Tata group officials, the change in designation will not impact the day-to-day workings of the group since as non-executive chairman, Tata will continue to hold the reins. Tata Sons is the holding company of the group.

Having joined the group in 1962, Tata has worked his way through various companies, before being appointed director-in-charge of NELCO in 1971. He became chairman of Tata Industries in 1981 and subsequently chairman of Tata Sons Ltd, the Tata group holding company. He is currently chairman of Tata Steel, Tata Engineering, Tata Power and Indian Hotels. He will be retaining these positions in a non-executive capacity.

Other members of the Tata Sons board are R. K. Krishna Kumar, Ishaat Hussain, P. S. Mistry, N. Soonawala, J. K. Setna, B. G. Deshmukh and Shyamal Gupta. Two board members retired this year, having crossed the extended retirement period for sitting board members at 75 years, namely, Fredie A. Mehta and J. E. Talaulicar.

Tata had been nominated by JRD Tata to be his successor and took over as executive chairman of the group in 1991. He studied in Cornell University and is a qualified architect and pilot.