Indian industrialist Ratan Tata served as Tata Sons’ previous chairman. He led the Tata Group from 1990 to 2012 as chairman, and from October 2016 to February 2017, he served as acting chairman…
Indian industrialist Ratan Tata served as Tata Sons’ previous chairman. He led the Tata Group from 1990 to 2012 as chairman, and from October 2016 to February 2017, he served as acting chairman. In addition to leading the company’s charity trust, he is an ardent philanthropist, with over half of its profits going to support charitable causes. In 2000 and 2008, he received the Padma Bhushan, India’s second-highest civilian award, and the Padma Vibhushan, India’s third-highest award.
Ratan Tata: Crucial Information
- Name – Ratan Naval Tata
- Birthdate – December 28, 1937
- Born – British India’s Bombay Presidency
(Mumbai, Maharashtra, India, today) - Alma mater – Cornell University (BArch)
- Work – Industrialist, investor, and philanthropist
- Title – Tata Sons and Tata Group Chairman Emeritus
- Term – (2016–2017) and (1991–2012)
- Successor – Natarajan Chandrasekaran (2017–present); Cyrus Mistry (2012–2016).
- Caregivers – Naval Tata
- Family – Tata family
- Awards – Assam Baibhav (2021), Maharashtra Bhushan (2006), Padma Bhushan (2000), and Padma Vibhushan (2008)
Childhood and Formative Years.
On December 28, 1937, Ratan Tata was born into Naval and Sonoo Tata. He has a stepbrother named Noel Tata and a brother named Jimmy. Ratan Tata’s parents divorced when he was ten years old. Navajbai Tata, the brothers’ grandmother, reared them both. He attended John Connon School and Campion School in Bombay for his early education. Cornell University in the United States awarded him a degree in architecture with a focus on structural engineering. He finished the Harvard Business School’s advanced management program in 1975.
Career
In 1962, he began working on the floor at Tata Sons. Although it was a demanding and challenging profession, he gained knowledge and insight into the family business.
He was appointed NELCO’s (National Radio and Electronics Company Ltd.) Director-in-Charge in 1971. The business was going through a period of financial distress. Ratan Tata put a lot of effort into creating a better consumer electronics division, but his efforts were thwarted by the recession and union disputes.
He was moved to Empress Mills, another underperforming Tata Group company, in 1977. He came up with a strategy to revitalize the mill, but the other executives of the corporation turned it down, and the mill was closed. Once more, Ratan Tata was transferred to Tata Industries.
Ratan Tata became the Tata Group Chairman in 1991, following JRD Tata’s appointment. Other executives objected, raising doubts about his capacity to handle the tasks. Ratan Tata successfully raised the Tata Group’s standing once he became leadership. Along with changing the division’s administration and vision, he also succeeded in raising dividends. He also served as a member of the Prime Minister’s Council on Trade and Industry during this time. He was on the RAND Asia Pacific Policy Advisory Board.
He actively participates in the AIDS initiative program in India.
In addition, he belongs to JP Morgan Chase, Booz Allen Hamilton, the American International Group, and the international advisory board of Mitsubishi Corporation.
Ratan Tata stepped down as chairman of the Tata Group in December 2012, the year of his 75th birthday. The Shapoorji Pallonji Group’s managing director, Cyrus Mistry, was appointed the next chairman of the Tata Group. From October 2016 to February 2017, he served as the chairman in interim.
He continues to actively invest in new, potential business projects despite being retired. He makes substantial donations to many national charities as a committed philanthropist.
Ratan Tata: Major Events
As the chairman of the Tata Group, he led the business to such heights that it received esteemed recognition on a global scale. Significant financial success was attained by the business, and the Tata Group joined the New York Stock Exchange. Under his direction, the Tata Group acquired businesses including Corus, Tetley, and Jaguar Land Rover, transforming it into a worldwide brand. Under his direction, the Tata Nano and Tata Indica cars were designed and manufactured.
He is a well-known philanthropist who has placed more than 65% of his share in trusts for charitable purposes. Giving Indians a higher standard of living and ensuring human growth is one of his main life goals.
Ratan Tata: Successes & Awards
- The government of India awarded Padma Bhushan, the third-highest civilian honor, in 2000.
- the Uruguayan government’s 2004 award for the Oriental Republic of Uruguay medal.
- International Award for Distinguished Performance (B’nai B’rith International, 2005).
- The London School of Economics and Political Science awarded him an honorary fellowship in 2007.
- Padma Vibhushan, the second-highest civilian award granted by the Indian government (2008).
- Awarded the title of “Grand Officer” by the Italian Republic’s Order of Merit (Government of Italy, 2009).
- Awarded the title of Honorary Knight Commander of the British Empire by the United Kingdom in 2009.
- The Business for Peace Foundation (2010) presented the Oslo Business for Peace Award.
- 2014 saw the creation of the Order of the British Empire Honorary Knight Grand Cross.
Individual Life and Legacy
Tata Ratan is single. He continues to live a modest life. He drives a Tata Sedan and lives in a modest Mumbai bungalow.