Chairman emeritus of Tata Sons, Ratan Tata, passed away in a Mumbai hospital on Wednesday, October 9. Reports that his condition had worsened began trickling in earlier in the day. At 11.56 pm on Wednesday, the news of his passing was announced officially.
In a statement, Tata Group said, “It is with a profound sense of loss that we bid farewell to Mr. Ratan Naval Tata, a truly uncommon leader whose immeasurable contributions have shaped not only the Tata Group but also the very fabric of our nation.For the Tata Group, Mr. Tata was more than a chairperson. To me, he was a mentor, guide and friend. He inspired by example. With an unwavering commitment to excellence, integrity, and innovation, the Tata Group under his stewardship expanded its global footprint while always remaining true to its moral compass.
Mr. Tata's dedication to philanthropy and the development of society has touched the lives of millions. From education to healthcare, his initiatives have left a deep-rooted mark that will benefit generations to come. Reinforcing all of this work was Mr. Tata's genuine humility in every individual interaction.”
Earlier on October 7, Ratan posted to his social media profiles saying, “I am aware of recent rumors circulating regarding my health and want to assure everyone that these claims are unfounded. I am currently undergoing medical check-ups due to my age and related medical conditions,” the statement said, adding, “There is no cause for concern. I remain in good spirits and request that the public and media respect refrain from spreading misinformation.”
Ratan took over as chairman of Tata conglomerate in 1991, a post he held until 2012. He also founded Tata Teleservices in 1996. During his tenure the Tata Groups revenue went from Rs 10,000 crore in 1991 to USD 100.09 billion in 2011-12.
He also oversaw several acquisitions such as Tetley by Tata Tea (USD 450 million) in 2000, Corus by Tata Steel in 2007 (GBP 6.2 billion) and Jaguar LandRover in 2008 for USD 2.3 billion by Tata Motors.
After his retirement, he was made chairman emeritus of Tata Sons, Tata Industries, Tata Motors, Tata Steel and Tata Chemicals. However he was at odds with his successor Cyrus Mistry until the latter was sacked in October 2016. He served as interim chairman until N Chandrasekaran took over as chairman in January 2017.
As Peter Casey’s book The Story of Tata: 1868 to 2021 observes, Ratan began is stint in his great-grandfather Jamsetji Tara’s company at Tata Engineering and Locomotive Company-TELCO in Jamshedpur where, “He spent two years on the shop floor, shovelling limestone and tending the blast furnace, before moving up to the engineering division and, finally, to the position of technical assistant to TISCO’s CEO (at the time called the director-in-charge) … In 1971, JRD gave him command (as director-incharge) of what Ratan later characterized as ‘two sick companies’. The assignments, he said, were made ‘supposedly to train me’. One of the ‘ailing’ firms was NELCO, a radio and television manufacturer, and the other was Central India Textiles.
He was also serving as the chairman of Tata Trust until his passing.