Ratan Tata, chairman emeritus of one of India's biggest conglomerates, Tata Sons, passed away on Wednesday. He was 86.
The veteran industrialist, who was in critical condition, breathed his last at a hospital in Mumbai.
Describing Ratan Tata as his 'friend, mentor and guide', Tata Sons chairman N Chandrasekaran, in a statement, confirmed the death of the industrialist.
"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,” said N Chandrasekaran.
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 Mr. 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.
“The clock has stopped ticking. The Titan passes away. #RatanTata was a beacon of integrity, ethical leadership and philanthropy, who has imprinted an indelible mark on the world of business and beyond. He will forever soar high in our memories,” said Harsh Goenka in a post on X.
On October 7, Ratan Tata was admitted to Mumbai's Breach Candy Hospital after a drop in blood pressure.
Following reports of his hospitalisation, Tata, 86, had termed the claims unfounded and said there was no cause for concern regarding his health as he was undergoing check-ups for age-related medical conditions.
"I am currently undergoing medical check-ups due to my age-related medical conditions. There is no cause for concern. I remain in good spirits," he said, requesting the public and media to refrain from “spreading misinformation”.
“Saddened by the passing away of Shri Ratan Tata. He was a Titan of the Indian industry known for his monumental contributions to our economy, trade and industry. My deepest condolences to his family, friends and admirers. May his soul rest in peace,” said Union Defence Minister Rajnath Singh.
- Tata received a B.Arch. degree from Cornell in 1962.
- He worked briefly with Jones and Emmons in Los Angeles before returning to India in late 1962.
- He completed the Advanced Management Program at Harvard Business School in 1975.
- Ratan Tata took over as the Chairman of Tata Sons in March 1991 and retired on December 28, 2012.
- During his tenure, the Tata Group's revenues grew manifold, totalling USD 100.09 billion in 2011-12 from a turnover of a mere ₹10,000 crore in 1991.
- He led the group into some notable acquisitions, starting from Tetley by Tata Tea for USD 450 million in 2000, to steelmaker Corus by Tata Steel in 2007 for GBP 6.2 billion and the landmark Jaguar LandRover in 2008 for USD 2.3 billion by Tata Motors.
The Government of India honoured Tata with its second-highest civilian award, the Padma Vibhushan, in 2008.
- After his retirement, Tata faced a boardroom battle with his successor Cyrus Mistry, who was sacked as Chairman of Tata Sons on October 24, 2016.
- He returned as Interim Chairman of the group after Mistry was removed and handed over the baton of the group to N Chandrasekaran in January 2017 and moved to his role of Chairman Emeritus of Tata Sons.
