Ratan Naval Tata GBE is an Indian businessman and chairman Emeritus of Tata Sons.
Ratan Naval Tata was born on December 28, 1937, in Surat. He is the present Chairman of the Tata Group, Indias largest conglomerate founded by Jamshedji Tata and consolidated and expanded by later generations of his family. Tata was born into the wealthy and famous Tata family of Mumbai. He was born to Soonoo and Naval Hormusji Tata. Ratan is the great grandson of Tata group founder Jamshedji Tata.
Ratans childhood was troubled, his parents separating in the mid 1940s, when he was about seven and his younger brother Jimmy was five. He was schooled at the Campion School, Mumbai and graduated from Cornell University in 1962 with a degree in Architecture and Structural Engineering. Ratan Tata holds a B.Sc. (Architecture) degree with structural engineering from Cornell University, USA and has completed the Advanced Management Program at Harvard Business School, USA. He joined the Tata Group in December 1962, after turning down a job with IBM on the advice of JRD Tata.
He was first sent to Jamshedpur to work at Tata Steel. Ratan Tata, a shy man, rarely features in the society glossies, has lived for years in a book crammed, dog filled bachelor flat in Mumbais Colaba district. Ratan Tata has his own capital in Tata Sons., the holding company of the group. Though his share is just about 1%, his personal holding is valued at US$ 1 Billion. If all the value of this is added his Net Worth is estimated at around US$ 50 Billion, making Ratan N. Tata one of the richest people in the world. JRD Tata with his successor Ratan Tata in 1971, Ratan was appointed the Director in Charge of the National Radio & Electronics Company Limited (Nelco), a company that was in dire financial difficulty. Ratan suggested that the company invest in developing high technology products, rather than in consumer electronics. In 1991, he took over as group chairman from J.R.D. Tata, pushing out the old guard and ushering in younger managers. Since then, he has been instrumental in reshaping the fortunes of the Tata Group, which today has the largest market capitalization of any business house on the Indian Stock Market. On March 26, 2008, Tata Motors, under Ratan Tata, bought Jaguar & Land Rover from Ford Motor Company. The two iconic British brands, Jaguar and Land Rover, were acquired for $2.3 billion. Ratan Tatas dream was to manufacture a car costing Rs 100,000. He realized his dream by launching Nano in New Delhi Auto Expo on January 10, 2008.
Ratan Tata was born to Naval Tata and Soonoo Commisariat and has a younger brother Jimmy Tata. Ratans father, Naval Tata was remarried to Simone Dunoyer, after his divorce and had one son, Noel Tata, from his second wife. Ratans father was an adopted son of Sir Ratan Tata.
3. Early life
Ratan Tata is the son of Naval Tata, who had been adopted from the family of a distant relative by Navajbai Tata after the death of her husband, Ratanji Tata. Ratan Tatas parents Naval and Sonoo separated in the mid 1940s when Ratan was ten and his younger brother, Jimmy, was seven years old. Both he and his brother were raised by their grandmother Navajbai Tata.Ratan also has a step brother Noel Tata from Naval Tatas second marriage to Simone Tata.Ratan began his schooling in Mumbai at the Campion School and finished his secondary education at the Cathedral and John Connon School.He completed his B.S. in architecture with structural engineering from Cornell University in 1962, and the Advanced Management Program from Harvard Business School in 1975.Tata is a member of the Alpha Sigma Phi fraternity.
Tata began his career in the Tata group in 1960. He initially started on the shop floor of Tata Steel, shovelling limestone and handling the blast furnace.In 1991, J. R. D. Tata stepped down as Chairman of Tata Sons, naming Ratan as his successor.Under his stewardship, Tata Tea acquired Tetley, Tata Motors acquired Jaguar Land Rover and Tata Steel acquired Corus, which have turned Tata from a largely India centric company into a global business, with 65% revenues coming from abroad. He was instrumental in the development of Tata Nano, largely dubbed as the worlds cheapest passenger car.Ratan Tata retired from all executive responsibility in the Tata group on 28 December 2012 which is also his 75th birthday and he was succeeded by Cyrus Mistry, the 44 year old son of Pallonji Mistry and managing director of Shapoorji Pallonji Group.
5. Board Memberships and Affiliations
He is currently the chairman Emeritus of Tata Sons. He continues to serve as the chairman of the main two Tata trusts Sir Dorabji Tata Trust and Sir Ratan Tata Trust and their allied Trusts, which together hold 66% of shares in the group holding company Tata Sons.Ratan Tata has served in various capacities in organisations in India and abroad. He is a member of the Prime Ministers Council on Trade and Industry and the National Manufacturing Competitiveness Council. He is on the jury panel of Pritzker Architecture Prize. considered to be one of the worlds premier architecture prizes.Ratan Tata is a director on the boards of Alcoa Inc., Mondelez International and Board of Governors of the East West Center. He is also a member of the Board of Trustees of University of Southern California, Harvard Business School Board of Deans Advisors, X Prize and Cornell University.
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