The salt to software giant had made history by naming a non â€“Tata to manage the reigns of the conglomerate. And Cyrus Mistry was the chosen leader.
There seems to be hush in the Mumbai head quarters of the traditional Indian conglomerate Tataâ€™s as the next descendent to the throne has been re-designated as the Managing Director of Tata Sons, effective from the first of this month. This move was necessitated feel the elite as a deputy chairman Mistry wouldn't have the direct management role in managing the day-to-day affairs of the company. On the whole it only goes on to show that. Tatas needed a person who would develop the business and take the conglomerate to the next level along with minuscule analysis of the entire group. The Prince-in-wait is right now trained under the aegis of the outgoing visionary Ratan Tata. It may be remembered that Mr. Ratan Tata praised the choice of the selection committee and said that Mistry was intelligent and qualified to take on the responsibility being offered.
It may also be noted that only second time in the history of the Tataâ€™s the $ 77.4 billion group - it has $ 83.3 billion in revenues has a non-Tata taken charge of the cockpit. Earlier it was Nowroji Saklatwala, who had been the group's Chairman between 1932 and 1938 before JRD Tata took over to lead the company till 1991. Again in November last year at the Tata Head quarters when the board of Tata Sons appointed 43-year-old Cyrus Pallonji Mistry as Deputy Chairman. The Tata group has over 100 operating companies and has operations in more than 80 countries. Over 58 per cent of its revenues come from businesses outside India. (With inputs from internet: AarKay)