Ratan Tata's Successor Secret Biography | Ratan Tata's-Tata panel
The search for a successor to Ratan Tata gathered momentum after India’s biggest conglomerate said a five-member panel would select its next chairman. Mr Tata, 72, head of the $70-billion salt-to-software group, who has built the world’s cheapest car and taken the group global, will step down in December 2012, creating a vacancy for what is widely regarded as the top job in corporate India.
The statement from Tata Sons, the group’s holding company, said the five-member panel included one “external member”. It did not name the members.
Two of the five members represent two trusts that are the major shareholders of Tata Sons while two are directors of Tata Sons, according to people close to the development. The two trusts, named after Ratan Tata and Dorabjee Tata, are major shareholders of Tata Sons. Tata Sons owns the majority of TCS, India’s biggest software maker, and has large holdings in companies such as Tata Steel and Tata Power.
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