Ratan N Tata, who turns 75 today is all set to hand over the reins of Tata Group to the young and dynamic 44 year old Cyrus Mistry. Mr Tata joined Tata Group in 1962 after serving in a host of other companies. He was named Chairman of Tata Industries in 1981 and the Government of India also honored Tata with its second highest civilian award – The Padma Vibhushan in 2008.
Tata is instrumental in transformation of the Tata Group from a corporate house to a US$ 100 billion global conglomerate. He now turns 75 today and has found a keen successor in Cyrus Mistry of Shapoorji Pallonji Group whose family owns 18% stake in Tata Sons. Mistry was selected by a five member selection panel and is well versed and highly capable of running this global conglomerate.
Tata was instrumental in bringing out the Tata Nano – world’s cheapest car which caused a great deal of excitement the world over. Over time, Tata Motors, the country’s largest automotive manufacturers for the current fiscal year brought out the Special Edition Tata Nano with additional features such as alloy wheels, music system and enhanced body graphics. Nano CNG and Diesel variants are eagerly awaited and are while the CNG variant is expected to be launched in the first half of the next calendar year, the diesel variant will still take time and is only expected in the last quarter of 2013.