Mumbai, Oct 10 (IANS): Ratan Naval Tata, the Chairman Emeritus of Tata Sons, passed away at the Breach Candy Hospital following age-related health conditions. He was 86.
Tata was admitted to the hospital on Monday, sparking intense speculation on his health status in corporate, political and common circles.
Later, he had issued a statement that he was undergoing certain routine medical examinations for age-related health concerns.
Subsequently, he was reportedly put on life-support systems, though the Tata Group officials did not confirm or deny anything.
Chairman, Tata Sons, N Chandrasekaran said that it is with a profound sense of loss that we bid farewell to Mr. Ratan Naval Tata, a truly uncommon leader whose immeasurable contributions have shaped not only the Tata Group but also the very fabric of our nation.
“For the Tata Group, Mr. Tata was more than a chairperson. To me, he was a mentor, guide and friend. He inspired by example. With an unwavering commitment to excellence, integrity, and innovation, the Tata Group under his stewardship expanded its global footprint while always remaining true to its moral compass.
“Mr. Tata’s dedication to philanthropy and the development of society has touched the lives of millions. From education to healthcare, his initiatives have left a deep-rooted mark that will benefit generations to come. Reinforcing all of this work was Tata’s genuine humility in every individual interaction.
“On behalf of the entire Tata family, I extend our deepest condolences to his loved ones. His legacy will continue to inspire us as we strive to uphold the principles he so passionately championed.”
Known for his genteel demeanour masking a tough and sharp business acumen, Tata served as the all-powerful Chairman of Tata Sons, the holding company of the Tata Group, from 1991 till his retirement on December 28, 2012.
It was during his stewardship that the group’s revenues grew manifold, totalling over $100 billion (in 2011-12).
On various occasions, Tata had served as the Chairman of major Tata companies, including Tata Motors, Tata Steel, Tata Consultancy Services, Tata Power, Tata Global Beverages, Tata Chemicals, Indian Hotels, and Tata Teleservices.
He was also associated with various organisations in India and abroad, and functioned on the international advisory boards of Mitsubishi Corporation and JP Morgan Chase.
Tata was also the Chairman of the Council of Management of the Tata Institute of Fundamental Research and on the Board of Trustees of Cornell University and the University of Southern California.
The Mumbai-born and educated Tata, who was born on December 28, 1937, had joined the Tata group as a young executive in 1962, after acquiring his Bachelor of Architecture degree from Cornell University that year.
He worked briefly with Jones and Emmons in Los Angeles before coming to India in end-1962, and then working on the shop floor of Tata Steel.
After serving in various companies, he was appointed Director-in-Charge of the National Radio and Electronics Company in 1971, and later completed an Advanced Management Programme at the Harvard Business School in 1975.
In 1981, he was named Chairman of Tata Industries, the group’s other holding company, where he was responsible for transforming it into a group strategy think tank and a promoter of new ventures in high-technology businesses.
Post-retirement, Tata was conferred the honorary title of Chairman Emeritus of Tata Sons, Tata Industries, Tata Motors, Tata Steel, and Tata Chemicals.
Tata was currently the Chairman of the Tata Trusts, comprising the Sir Ratan Tata Trust and Allied Trusts, plus the Sir Dorabji Tata Trust and Allied Trusts.
Under his guidance and leadership, these Trusts metamorphosed from being reactive charities to India’s premier philanthropic foundations, striving to transform the lives of millions of individuals, through meaningful partnerships with like-minded non-profit organisations, communities, governments (state and central), corporates and foreign funding organisations.
The Indian government honoured Tata with its second-highest civilian award, the Padma Vibhushan, in 2008. He has also received many other awards, honours, honorary doctorates from several Indian and global universities and other accolades.