On Wednesday, Ratan Tata, the chairman emeritus of Tata Sons, one of the largest businesses in India, passed away. According to Reuters, Tata Group released a statement stating, "Chairman emeritus of India's Tata Group Ratan Tata Has Died." Ata Mumbai hospital, the elderly industrialist, who was critically ill, passed away.
"The timer is no longer running. The Titan is no longer with us. #RatanTata was a shining example of morality, philanthropy, and ethical leadership. He left an enduring legacy in the corporate world and beyond. Harsh Goenka wrote on X, "He will always soar high in our memories." Ratan Tata was brought to Breach Candy Hospital in Mumbai on October 7th due to a decrease in his blood pressure.
After it was reported that he had been admitted to the hospital, Tata, 86, called the allegations baseless and stated that his health was OK because he was being checked for age-related ailments. "As a result of age-related medical conditions, I am currently undergoing check-ups." There's nothing to worry about. I'm still in good spirits," he declared, asking people to please stop "spreading falsehoods" and asking the media to do the same.
I'm saddened by Shri Ratan Tata's demise. Known for his enormous contributions to our economy, trade, and industry, he was a Titan of Indian industry. My sincere sympathies go out to his loved ones, friends, and supporters. Rajnath Singh, the Union Minister of Defence, wished for the tranquility of his soul.
About Ratan Tata
- In 1962, Tata graduated with a B.Arch. from Cornell.
- Before going back to India in late 1962, he had a brief career working with Jones and Emmons in Los Angeles.
- He graduated from Harvard Business School's Advanced Management Program in 1975.
- Ratan Tata became Tata Sons' chairman in March 1991 and announced his retirement on December 28, 2012.
- Under his leadership, the Tata Group's earnings multiplied, rising from a meagre ₹10,000 crore in 1991 to a staggering USD 100.09 billion in 2011–12.
- He over saw the group's acquisition of Tetley by Tata Tea for USD 450 million in 2000, steelmaker Corus by Tata Steel for GBP 6.2 billion in 2007, and the historic Jaguar Land Rover by Tata Motors for USD 2.3 billion in 2008.
- In 2008, the Indian government bestowed upon Mr. Tata the Padma Vibhushan, the nation's second-highest civilian accolade.
- Following his retirement, Tata engaged in a boardroom feud with Cyrus Mistry, his successor, who was removed from Tata Sons' chairmanship on October 24, 2016.
- Following Mistry's dismissal, he took back the reins as the group's interim chairman, transferring leadership to N Chandrasekaran in January 2017, and becoming Chairman Emeritus of Tata Sons.