The Chairman of the Tata Sons, Ratan Tata has recently submitted to the Supreme Court that the future chairman of the Tata trusts could be a non-Tata.
Ratan Tata had ended his active association with Tata Sons in December 2012 as he stepped down as the Chairman. By the time he had served for 50 years as the chairman of Tata Sons. However, he does continue to serve as the Chairman of Tata Trust. According to a recent report in Economic Times, Ratan Tata said,
“I happen to be the current chairman of these trusts. It could be somebody else, not necessarily with the surname ‘Tata’, in the future. An individual’s life is nite, whereas these organizations will continue.”
Tata also clarified that any member of the Tata family will have no vested right into any position in the Tata Sons. Tata was responding to a plea led by the Cyrus investments which are a company controlled by the Mistry family. In the report, Tata said,
“Members of the Tata family have no vested right to that position or even to the chairmanship of Tata Sons.”
No Nepotism In Tata Sons
The report comes at a time when there is a rumor that Ratan Tata is supposed to be evaluating the plans of Tata institutions with an eye on the future. According to a source close to Tata,
“He could seek to form a committee of high-ranking individuals from various fields, especially (with a background) in philanthropy and humanities.”
In responding to a plea by the Cyrus investments, Tata clarified that the current chairman of Tata Sons. N Chandrashekharan is not from the Tata family. He said,
“The current chairman of Tata Sons is also not a ‘Tata’. So far as the members of the Tata family (descendants/relatives of founders) are concerned, no special right or role has ever been stipulated or given to them in the company (Tata Sons), or its management, apart from the rights that they would have under law as a shareholder in the company. Their shareholding itself shows that the structure of the Tata Group is delinked from the family.”
Source: Times Now
