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Ratan Tata steps aside as leader of Tata Group on 75th birthday

AFP
December 29, 2012, 12:05 am TWN

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MUMBAI -- The head of India's Tata Group, Ratan Tata, quietly handed over the reins of the business empire on his 75th birthday Friday as he basked in the plaudits for turning the organisation into a global power.

Tata, who steered the group for 21 years as chairman, has been credited with transforming it into a streamlined conglomerate of more than 100 companies and earning a global reputation for eye-catching acquisitions of Western firms.

There was no event scheduled to mark the transition, which will see Cyrus Mistry — a relative through marriage of Ratan Tata — become the new supremo.

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