The Board has decided to confer on Ratan Tata the honorary title of Chairman Emeritus.
Ratan Tata, the outgoing chairman of over $80-billion Tat Group, on Thursday introduced his successor Cyrus P Mistry to Gujarat Chief Minister Narendra Modi during a courtesy visit to his residence in Gandhinagar, a top state official said.
Hussain shall hold office as the chairman of the company until a new chairman is appointed in his place
Kumar will hold responsibility for strategy at the group level.
Tata Group was the only private enterprise on the itinerary of Li Keqiang during his visit to the country.
The objective of the council is to provide strategic and operational support to the group chairman.
Faced with steep fall in sales of Nano, Tata Motors said it will reposition the budget car as `a smart city car' with added features such as power steering, apart from introducing a CNG version.
Mistry would be succeeding as the chairman of Tata Group.
Effective November 8, Ratan N Tata has stepped down as chairman of Tata Power and Cyrus P Mistry will take his place.
Tata group will invest over Rs 45,000 crore on various businesses over next two years and would look to expand its presence in global markets besides in India, the group's new chief Cyrus P Mistry said.
Tata is separating management from shareholding control.
Mistry will work with Ratan Tata over the next year and take over from him when he retires.
Tata had led the salt-to-software conglomerate for 21 years after being chosen successor by his uncle, the iconic JRD Tata, in 1991.
He seems to have fallen from a higher floor of a hotel in Bangkok.
The Tata trusts can nominate one-third of the directors of Tata Sons
The Supreme Court has said that Cyrus Mistry's removal as executive chairman of Tata group was justified as a "a person who tries to set his own house on fire for not getting what he perceives as legitimately due to him, does not deserve to continue as part of any decision-making body".
Kant, an alumnus of IIT-Kharagpur, was managing director of the company before being promoted as vice-chairman five years ago.
The note mentioned "domestic problems".
Does India's most valued company give hope to its investors that they, too, might drive a Jaguar some day?
It is believed that Tata Sons was unhappy with Mistry's approach of shedding non-profit businesses, including the conglomerate's steel business in Europe, and concentrating only on cash cows
The new obsession on cost control is powered by the company's 'GEAR' (Generate idea, evaluate, action and realise the idea) programme.
Assocham told Modi policy makers needed to act fast to "bullet proof" India from global jitters.
Days before Narendra Modi arrives in the US to speak at the UN, meet Barack Obama, gupshup with the likes of Nadella, Pichai, Zuckerberg, and address desis in Silicon Valley, his ministers will help set the commercial and strategic tone for the prime minister's visit.
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