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Ratan Tata is an Indian industrialist and a former chairman of Tata Sons. From 1990 – 2012 he was the Chairman of Tata Group and became the interim chairman from October 2016 through February 2017. He is a dedicated philanthropist and heads the company’s charitable trust, and more than half of the profits are channelled towards various charitable initiatives. He was awarded the second and the third highest civilian award in India – the Padma Bhushan – in 2000 and the Padma Vibhushan – in 2008.
Ratan Tata – Important Details
- Name – Ratan Naval Tata
- Date of Birth – 28 December 1937
- Born in – Bombay, Bombay Presidency, British India
(present-day Mumbai, Maharashtra, India) - Alma mater – Cornell University (BArch)
- Occupation – Industrialist, philanthropist, and investor
- Title – Chairman Emeritus, Tata Sons and Tata Group
- Term – (1991–2012) and (2016–2017)
- Predecessor – JRD Tata
- Successor – Cyrus Mistry (2012 -2016); Natarajan Chandrasekaran (2017–present)
- Parent(s) – Naval Tata
- Relatives – Tata family
- Awards – Assam Baibhav (2021), Padma Vibhushan (2008), Maharashtra Bhushan (2006), and Padma Bhushan (2000)
Childhood and Early Life
Ratan Tata was born on 28th December 1937 to Naval Tata and Sonoo Tata. He has a brother Jimmy and a step-brother, Noel Tata. When Ratan Tata was 10 years old, his parents separated. Both the brothers were brought up by their grandmother Navajbai Tata. His early schooling was done in Mumbai at Campion School and John Connon School. He received his degree in Architecture with structural engineering from Cornell University, U.S.A. In 1975 he completed an advanced management programme at the Harvard Business school.
Career
He joined Tata Sons in 1962, where he worked on the floor. It was a strenuous and difficult job, but he gained experience and understanding of the family business.
In 1971, he was made Director-in-charge of the NELCO (National Radio and Electronics Company Ltd). The company was going through a financial crisis phase. Ratan Tata worked hard to build an improved consumer electronics division, but the economic recession and Union issues did not prove successful.
In 1977, he was transferred to Empress Mills, another struggling Tata Group unit. He made a plan for the mill’s revival, but the other company executives rejected it, and the mill was shut down. Ratan Tata was yet again moved to Tata Industries.
In 1991, JRD Tata appointed Ratan Tata the Chairman of the Tata Group. There were objections from other executives amid concern regarding his ability to manage the responsibilities. Once at the Tata Group’s helm, Ratan Tata successfully improved the organisation’s overall position. He modified the management and vision of the division and also managed to increase the dividends. During this period, he was also a Prime Minister’s Council on Trade and Industry member. He was on the advisory board of the RAND for the Asia Pacific Policy.
He is an active member of India’s AIDS initiative program.
He is also a member of the Mitsubishi corporation international advisory board, JP Morgan Chase, Booz Allen Hamilton, and the American International Group.
In December 2012, on his 75th birthday, Ratan Tata resigned as chairman of Tata Group. Cyrus Mistry, the Managing Director of Shapoorji Pallonji Group, became the new chairman of the Tata Group. He acted as the interim chairman from October 2016 through February 2017.
Retirement does not hold him back as he still actively invests in new promising business ventures. He is a dedicated philanthropist and contributes significantly to various charities in the country.
Ratan Tata - Major Successes
In the capacity of Tata Group’s Chairman, he took the company to such heights that it was prestigiously recognized at the international level. The company achieved great financial success, and the Tata Group reached the New York Stock Exchange. Under his leadership, Tata Group became a global brand with its acquisition of companies such as Corus, Jaguar Land Rover, and Tetley. The Tata Nano and Tata Indica automobiles were conceived and built under his leadership.
A major philanthropist, he has invested over 65 percent of his share in charitable trusts. A key goal of his life is to give Indians a better quality of life and ensure human development.
Ratan Tata - Achievements and Awards
- Padma Bhushan (3rd highest civilian honour of the Govt. of India (2000)).
- Medal of the Oriental Republic of Uruguay (Govt. of Uruguay (2004)).
- International Distinguished Achievement Award (B’nai B’rith International (2005)).
- Honorary Fellowship of The London School of Economics and Political Science (2007).
- Padma Vibhushan (2nd highest civilian honour of the Govt. of India (2008)).
- Award of ‘Grand Officer’ of the Order of Merit of the Italian Republic (Government of Italy (2009)).
- Title of Honorary Knight Commander of the Order of the British Empire, United Kingdom (2009).
- Oslo Business for Peace Award (Business for Peace Foundation (2010)).
- Honorary Knight Grand Cross of The Order of the British Empire (2014).
Personal Life & Legacy
Ratan Tata is unmarried. He maintains a low-profile lifestyle. He owns a simple house in Mumbai and drives a Tata Sedan.
