Tata said it is looking for a successor to 71-year old chairman Ratan Tata. The company said that it is considering local and foreign candidates to head the group that 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,” Tata said in an interview. We have some outside consultants and a formal search process is on. There are no constraints.”
He said that the successor could come from the group or outside. All but one of the company’s chairmans have been Tatas. According to its website, the company has annual revenues of $71 billion and 357,000 employees.
“It would certainly be easier if that candidate were an Indian national,” Tata said. “But now that 65 percent of our revenues come from overseas, it could also be an expatriate sitting in that position with justification now.”
– By: Omar Rana