News of Ratan Tata’s successor eagerly awaited
With markets and markets watchers all agog in anticipation to see who Ratan Tata’s heir will be, the man himself refuses to be drawn into making it a big deal. In a TV news report, Tata reiterated that all the speculation was quite needless. He spoke on the succession plan that was put in place, that the selection committee had been formed ten years ago and that certain parameters in the selection criteria were set by him.
The final decision on the successor will be taken by the committee, which he will be totally uninvolved in, said Ratan Tata. Tata Sons will only be carrying out the task of announcing the name of the person that the committee picks out as the successor.
He made it clear that regional or community politics would not have any role in the selection process. Basically, the chosen person would be one who displayed all the capabilities that were required to take the company forward on the same levels of excellence and accomplishment that was its hallmark. He has made it clear that he would be open to someone outside the group taking over as well, if he was considered to be the perfect candidate.
According to reports, Ratan Tata’s successor will be named by March 2011. The group had its beginnings in 1887, with four partners. Ratan Tata will retire as the sixth Chairman of the Tata Group on December 29, 2012. One of the candidates rumored to be a hot favourite is Noel Tata, who has been in Nestle, Tata International, Lakme and Tomco in the past, and served as managing director of Trent, where he is still Vice-Chairman.