Tata Sons Chairman Ratan Tata Passes Away At 86

Tata Sons Chairman, Ratan Tata passed away on 9 October 2024 at the age of 86 due to prolonged age-related illness at Breach Candy Hospital, Mumbai. His passing marks the end of an era, as Tata’s leadership and vision left an indelible mark on India’s business and philanthropic landscape. His contributions to the Tata Group, the Indian economy, and global business have cemented his legacy as one of the greatest industrialists of all time.

Tata’s life continues to inspire millions of individuals worldwide, not only for his business acumen but also for his commitment to making the world a better place through philanthropy and social initiatives.

Ratan Tata: A Legendary Industrialist and Philanthropist

Ratan Naval Tata (28 December 1937 – 9 October 2024), was a distinguished Indian industrialist and philanthropist who served as the chairman of Tata Sons, the holding company of the Tata Group, from 1991 to 2012. He later assumed the position of interim chairman from October 2016 to February 2017. His visionary leadership transformed the Tata Group from an India-centric conglomerate into a global business empire. Tata’s philanthropic efforts also established him as one of the greatest benefactors in the world, contributing around 60-65% of his income to charity.

Early Life and Education

Ratan Tata was born in Mumbai, then Bombay, during the British Raj, into a prominent Parsi Zoroastrian family. His father, Naval Tata, was adopted by Ratanji Tata, son of Jamsetji Tata, the founder of the Tata Group. Ratan Tata had a challenging childhood after his parents separated when he was just 10 years old. He and his younger brother, Jimmy Tata, were raised by their grandmother, Navajbai Tata.

Education

Ratan Tata was educated at several prestigious institutions:

• Campion School, Mumbai (up to Class 8)
• Cathedral and John Connon School, Mumbai
• Bishop Cotton School, Shimla
• Riverdale Country School, New York (graduated in 1955)

After completing his school education, Tata enrolled at Cornell University where he earned a Bachelor’s degree in Architecture in 1962. He also completed the Advanced Management Program at Harvard Business School in 1975.

Career Highlights

Early Career

Tata’s journey within the Tata Group began in 1961, where he initially worked on the shop floor of Tata Steel. During the 1970s, he was given a managerial role in National Radio and Electronics (NELCO), a Tata subsidiary, which he successfully turned around before the business collapsed due to an economic slowdown.

Rise as Chairman of Tata Sons

In 1991, Ratan Tata took over as the chairman of Tata Sons from J.R.D. Tata. When he assumed leadership, the Tata Group was a sprawling conglomerate with a largely India-centric focus. Over the next 21 years, Tata’s leadership was marked by transformative decisions that turned the company into a global powerhouse.

Key Contributions:

• Global Acquisitions: Ratan Tata spearheaded some of the most significant acquisitions in Indian corporate history. These include:

1. Tetley (2000): Acquired by Tata Tea for USD 450 million.
2. Corus (2007): Acquired by Tata Steel for GBP 6.2 billion.
3. Jaguar Land Rover (2008): Acquired by Tata Motors for USD 2.3 billion.

• Tata Consultancy Services (TCS): Under his leadership, Tata Consultancy Services went public in 2004, marking a major milestone in the Indian IT industry.
• Innovation and Product Development: Ratan Tata conceptualized and launched the Tata Nano, the world’s most affordable car, which aimed to make car ownership accessible to the average Indian family.
• Expanding the Group’s Global Presence: By the time Tata retired in 2012, over 65% of the group’s revenue was coming from international markets. The Tata Group’s revenue grew from ₹10,000 crore in 1991 to over USD 100 billion by 2012.
• Telecommunications: In 1996, Tata founded Tata Teleservices, further diversifying the group’s presence in the telecommunications sector.

Retirement and Return

Ratan Tata retired from his role as chairman of Tata Sons on 28 December 2012 and was succeeded by Cyrus Mistry. However, due to internal disagreements, Mistry was removed from his position in 2016. Tata stepped in as interim chairman and later handed over the reins to N Chandrasekaran in 2017.

Philanthropic Legacy

Ratan Tata’s philanthropic contributions have been as impactful as his business ventures. He was deeply involved in the Tata Trusts, which fund education, health, and development initiatives across India. Tata’s donations have supported several causes, including cancer research, rural development, and disaster relief.

Notably, Tata made significant contributions to Cornell University, including a USD 50 million donation in 2008. This made him the largest international donor in the university’s history. His efforts to improve cancer care in Assam earned him the Assam Baibhav award in 2021.

Personal Life and Interests

Ratan Tata is known for his humility and simple lifestyle. Despite leading one of the largest business groups in India, he lived a relatively low-profile life. He is passionate about cars, planes, and architecture. Although he never married, Tata has always maintained close ties with his family, including his brother Jimmy and half-brother Noel Tata.

Honours and Awards

Ratan Tata received numerous accolades for his contributions to business and society. Below is a summary of his major awards:

Summary of the News