Ratan Tata to retire tomorrow, Cyrus Mistry to succeed him
International business tycoon and the Chairman of Tata Group (Tata Sons) Ratan Naval Tata popularly known as Ratan Tata will retire tomorrow ending a 50-year run in one of India’s oldest business empires. Ratan Tata led the transformation of the Tata group from a conventional corporate house into a USD 100 billion global conglomerate with high-profile acquisitions abroad. Rata Tata is hanging up his boots after steering the group for 21 years as its Chairman, when he succeeded the legendary JRD Tata.
Marking a generational change, Tata, who turns 75 tomorrow, will hand over the reins of the group to 44-year-old Cyrus Mistry, who was chosen his successor last year and formally appointed Chairman earlier this month.