Ratan Tata successor by March; no clue yet
06 Aug 2010
With the Tata group announcing on Thursday that a successor to chairman Ratan Tata will be chosen next March, speculation is rife about whom this would be, although no tangible clue seems to have emerged as yet.
R K Krishna Kumar, a director of Tata Sons – the promoter of the $71-billion (Rs3,34,481 crore) group, told reporters that the identity of the Tata Group's next chairman would become clear by February or March 2011.
He was speaking after the annual general meeting of Indian Hotels Co, owner of the Taj brand.
On Wednesday, a Tata Sons statement said its nine-member board had formed a five-member committee, including Krishna Kumar and an independent member, to select a successor. The panel would look at candidates from both inside the organisation and outside.
The selection would be made in ''adequate time to effect a smooth transition and change of leadership'', the statement added, implying that the successor would for a while work with Ratan Tata and learn the ropes from him.
The Tata Group's move to select its new boss through a formal process has set a precedent for India's private sector, where children, usually the sons, succeed their fathers.
