Ratan Tata, Former Tata Group Chairman, Dies Aged 86
Ratan Tata, Indian business magnate and former Tata Group chairman, has died at the age 86.
Tata was one of India's most world-renowned business leaders, credited with growing Tata Group into one of India’s largest global conglomerates, with annual revenues exceeding US$100bn (£76.5bn).
After more than two decades of leading the group, he retired as chairman in 2012, but was appointed chairman emeritus of Tata Sons, the group's holding company.
In an announcement, Natarajan Chandrasekaran, the current chairman of Tata Sons, said: “His legacy will continue to inspire us as we strive to uphold the principles he so passionately championed.”
Indian prime minister Narendra Modi said Tata was “a visionary business leader, a compassionate soul and an extraordinary human being”.
Career of Ratan Tata
Born in 1937, Tata started his career after graduating in architecture and structural engineering at Cornell University in the United States. In 1962, he joined Tata Industries, the business his great-grandfather founded nearly a century earlier, as an assistant.
From training at a company plant in Jamshedpur, he went on to work at the Tata Iron and Steel Company (now Tata Steel) and Tata Consultancy Services (TCS).
He also joined National Radio and Electronics (Nelco), where he eliminated losses and grew its market share.
In 1991, Tata succeeded his uncle in leading the group. Under his leadership, the company launched an airline that later became Air India, the first car designed and built in India, and the Nano, promoted as the country’s cheapest car.
A licensed pilot, Tata would sometimes fly the company plane.
He was never married and had no children.
What made Ratan Tata a successful leader?
Tata's remarkable success can be attributed to several key factors:
Global expansion strategy
Tata increased Tata Group’s presence on the global stage with several strategic acquisitions: the UK’s Tetley Tea for US$431.3m in 2000 and Jaguar Land Rover for US$2.3bn in 2008, South Korea’s Daewoo Motors' truck manufacturing unit for US$102m and the Anglo-Dutch Corus Group for US$11.3bn.
Visionary leadership
Leading with strategic thinking and exceptional foresight, Tata expanded the conglomerate into new sectors as well as global markets. He was not afraid to take calculated risks, identifying opportunities to grow the group.
Ethical business practices
Tata demonstrated a commitment to ethics in business and his personal life. He was admired for leading a modest lifestyle compared to some of his billionaire peers, and upheld the Zoroastrian philosophy: “Good Thoughts, Good Words and Good Deeds”, which was inscribed at the group's headquarters.
Innovation and adaptability
The Tata Group remained at the forefront of multiple industries, thanks to Tata’s focus on innovation and excellence. He encouraged creative thinking, was able to adapt to changing market conditions and embraced new technologies.
Corporate social responsibility
Tata's philanthropic pursuits and social responsibility set him apart from many of his peers. He founded one of India's largest philanthropic organisations, the Tata Trusts.
Leadership development
While leading his company, Tata brought in younger talent, and emphasised the importance of developing future leaders.
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