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Ratan Tata Biography
Ratan Tata, Born Ratan Naval Tata on 28th December, 1937 is an Indian businessman of the Tata Group, a Mumbai-based conglomerate. He was the chairman of the group from 1991-2012. He stepped down as the chairman on 28 December 2012 and now holds the position of Chairman Emeritus of the group which is an honorary and advisory position. He will continue as the chairman of the groups charitable trusts
Ratan Tata Early Life
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 Jamsetji’s childless younger son, also named Ratan Tata, and his wife Navajbai. Tata’s parents (Naval and his first wife Sooni) separated in the mid-1940s when Ratan was seven and his younger brother Jimmy was five years old. Both he and his brother were raised by their grandmother Lady Navajbai. Many years later, Naval Tata took a second wife, Simone, and fathered another son, Noel Tata.
Tata began his schooling in Mumbai at the Campion School and the Bishop Cotton School in Shimla, and finished his secondary education at the 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 is a member of the Alpha Sigma Phi fraternity.
Ratan Tata Career
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.
In 1991, J. R. D. Tata stepped down as Tata Industries chairman, naming Ratan as his successor.
In 1991, Tata was appointed as the chairman of the Tata group. Under his stewardship, Tata Tea acquired Tetley, Tata motors acquired Jaguar Land Rover and Tata Steel acquired Corus, which 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 the Tata Indica and the Tata Nano.
Ratan Tata retired from all executive responsibility in the Tata group on December 28, 2012 which is also his 75th birthday and he is succeeded by Cyrus Mistry, the 44-year-old son of Pallonji Mistry and managing director of Shapoorji Pallonji Group.
He is chairman emeritus of Tata Sons, Tata Motors, Tata Steel and a few other group companies. He is also the chairman of the main two Tata trusts Sir Dorabji Tata and Allied Trusts and Sir Ratan Tata Trust which together hold 66% of shares in the group holding company Tata Sons.
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 R&D’s Center for Asia Pacific Policy and serves on the program board of the Bill & Melinda Gates Foundation’s India AIDS initiative.
Ratan Tata Achievements
Ratan Tata, who led the transformation of the Tata group from a conventional corporate house into a $100 billion global conglomerate with high-profile acquisitions abroad, retired today, ending a 50-year run in one of India’s oldest business empires.
1998 : The Tata Indica, the conglomerate’s first passenger car, was launched this year. The car went on to become the No.1 brand in its segment within two years.
2000 : Tata Tea, now Tata Global Beverages, acquired the Tetley group, the world’s second largest manufacturer and distributor of tea. Tetley is the largest tea company in the UK.
2001 : Tata AIG, a joint venture between the Tata group and American International Group Inc (AIG), marks the re-entry of the Tata group into the insurance sector. The group’s insurance company, New India Assurance, founded by Dorab Tata in 1919, was nationalised in 1956.
2002 : The group acquires a controlling stake in Videsh Sanchar Nigam Ltd. VSNL was founded in 1986 and was the first Indian PSU to be listed on the New York Stock Exchange.
2003 : Tata Consultancy Services became the first Indian software company to cross $1 billion in revenue. The company went public a year later.
2004 : Tata Motors is listed on the New York Stock Exchange. The company also acquires the heavy vehicles unit of Daewoo Motors the same year.
2007 : Tata Steel acquires Anglo-Dutch company Corus, the second-largest steel maker in Europe.
2008 : Tata Motors unveils the Nano, the country’s cheapest passenger car. It was initially dubbed the [rupee] 1 lakh car, though it now costs [rupee] 1.5-2 lakh.
2008 : Tata Motors acquires the Jaguar and Land Rover businesses from Ford, and forms a new company, Jaguar Land Rover.
2012 : Tata Global Beverages and Starbucks form a joint venture, Tata Starbucks Ltd, and open their first store in Mumbai.