Ratan Tata denies reports of him stepping down from Tata Trusts

Ratan Tata has denied reports that he could step down as chairman of Tata Trusts, saying he is looking forward to continue his involvement with the Trusts' initiatives.

Ratan Tata denies reports of him stepping down from Tata Trusts

Ratan Tata has denied reports that he could step down as chairman of Tata Trusts, saying he is looking forward to continue his involvement with the Trusts' initiatives.

CNBC-TV18 reported that Tata has no plans to step down at this point of time. He is, however, keen on a process for “a smooth succession at an appropriate time”. It was widely reported that Ratan Tata has plans to resign and quit the helms of $103 billion conglomerate.


News reports quoted Tata’s trusted lieutenant R K Krishna Kumar, that Tata was to resign from the helm of the trusts, which control nearly two-thirds of the equity in Tata Sons.

“Further to news reports that have appeared in the media today, Mr. Ratan Tata, Interim Chairman, clarified that there are no plans for his stepping down from the chairmanship of the Tata Trusts at this point in time. The reference to the media discussion with some Trustees relate to the process being put in place for the leadership succession in the Trusts in the future, to enable an ordered and smooth transition of leadership,” a press release from the company said.

“Mr. Tata also emphasised that the Trusts were undertaking many initiatives that had national impact and he is looking forward to continuing his involvement with these initiatives in the Trusts. He was, however, keen that a process should be in place for a smooth succession at an appropriate time,” it said.

It is in his capacity as the head of the trusts that Tata engineered the ouster of Cyrus Mistry as the Tata Sons chairman on October 24. Both Ratan Tata and Cyrus Mistry since then have been lodged in a bitter battle.