What the successor has to manage. A 140 year old group with….
Turnover – $71 billion
Employees – 357,000
Number of companies under the group – 98
To replace – Ratan Tata
Anyone interested / capable ?
India’s Tata conglomerate is looking around the world for a successor to Ratan Tata, the 71-year old chairman of the sprawling salt-to-steel group said in an interview with the Wall Street Journal published on Wednesday.
Local and foreign candidates were being looked at to head the group, which includes Tata Motors, Tata Steel, Tata Consultancy Services and Tata Power among its 27 listed companies
“We are in the process of formalising a successor to me. We have some outside consultants and a formal search process is on. There are no constraints,” Tata, who has steered the group for nearly two decades, said in the interview.
The successor could be from within the group or outside, Tata said, adding he hoped the person would carry on the growth path that had been set. All but one of the group’s past chairmans have been Tatas, although at the moment no family candidate has been publicly identified to take over the role.
“It would certainly be easier if that candidate were an Indian national. But now that 65 percent of our revenues come from overseas, it could also be an expatriate sitting in that position with justification now,” Tata said.
The group, founded in 1868, runs India’s top vehicle maker, top software services firm, top private sector power producer and the world’s eighth-largest steel maker by output.
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