Ratan Tata

Ratan Tata
GBE
Ratan Tata
Born (1937-12-28) 28 December 1937
Bombay[1], Bombay Presidency, British India
Residence Colaba, Mumbai, India[2]
Nationality Indian
Alma mater Cornell University
Harvard Business School
Occupation Former chairman, Tata Group [3]
Relatives See Tata family
Awards Padma Vibhushan (2008)
Padma Bhushan (2000)

Ratan Naval Tata is an Indian industrialist, investor, philanthropist, and former chairman of Tata Sons. He was the former chairman of Tata Group, Mumbai, Maharashtra based global business conglomerate from 1991 till 2012 and again from 24 October 2016 for an interim term, and continues as the head of its charitable trusts.[4][5] He is the recipient of two of the highest civilian awards of India–Padma Vibhushan (2008) and Padma Bhushan (2000).[6]

He is an alumnus of the Cathedral and John Connon School, Bishop Cotton School (Shimla), Riverdale Country School, Cornell University and Harvard Business School

Early life

Ratan Tata was born in Bombay, now Mumbai, on 28 December 1937,[7] and is the son of Naval Tata (born in Surat), and was adopted from J. N. Petit Parsi Orphanage by the widow of Sir Ratanji Tata, Navajbai Tata. His biological maternal grandmother had been the sister of Hirabai Tata, wife of group founder Jamshedji Tata. His biological father, Hormusji Tata, had belonged to the broader Tata family; Naval therefore was a Tata by birth. Parents Naval and Sonoo separated in 1948 when Ratan was 10, and he was subsequently raised by his grandmother, Navajbai.[8] He has a half-brother Noel Tata from Naval Tata's second marriage to Simone Tata, with whom he was raised. His first language is Gujarati.[9]

He schooled in Mumbai and Shimla, at the Cathedral and John Connon School and Bishop Cotton School (Shimla).[10] He graduated Riverdale Country School in 1955.[11][12] He received a B. Arch. degree in architecture with structural engineering from Cornell University in 1962, and the Advanced Management Program from Harvard Business School in 1975.

Career

Tata began his career in the Tata Group in 1961. He started on the shop floor of Tata Steel, shoveling limestone and handling the blast furnace.[13] He could not turn around group companies, NELCO and Empress Mills, which he was given charge of in the 70s.[14][15] In 1991, J. R. D. Tata stepped down as chairman of Tata Sons, naming him his successor. When he settled down into the new role, he faced stiff resistance from many companies heads some of whom had spent decades in their respective companies and rose to become very powerful and influential due to the freedom to operate under JRD Tata. He began replacing them by setting a retirement age, and then made individual companies report operationally to the group office and made each contribute some of their profit to build and use the Tata group brand. Innovation was given priority and younger talent was infused and given responsibilities.[16] Under his stewardship, overlapping operations in group companies were streamlined into a synergised whole,[17] with the salt-to-software group exiting unrelated businesses to take on the onslaught of globalisation.

During the 21 years he led the Tata Group, revenues grew over 40 times, and profit, over 50 times.[14] Where sales of the group as a whole, overwhelmingly came from commodities when he took over, the majority sales came from brands when he exited.[18][19] He boldly got Tata Tea to acquire Tetley, Tata Motors to acquire Jaguar Land Rover and Tata Steel to acquire Corus. All this turned Tata from a largely India-centric group into a global business, with over 65% revenues coming from operations and sales in over 100 countries.[14][20] He conceptualised the Tata Nano car.[16] As he explained in a recent interview for the Harvard Business School's Creating Emerging Markets project, the development of the Tata Nano was significant because it helped put cars at a price-point within reach of the average Indian consumer.[21]

Ratan Tata resigned executive power in the Tata group on 28 December 2012, upon turning 75, appointing as his successor, Cyrus Mistry, the 44-year-old son of Pallonji Mistry of the Shapoorji Pallonji Group, the largest individual shareholder of the group and related by marriage.[22][23] On 24 October 2016, Cyrus Mistry was removed as the chairman of Tata Sons and Ratan Tata was made interim chairman. The decision went through intense media scrutiny that made many scrutinize the root causes of the sudden removal, and the resultant crisis.[24] On 12 January 2017 Natarajan Chandrasekaran was named as the chairman of Tata Sons, a role he assumed in February 2017.

Tata invested personal savings in Snapdeal- one of India's leading e-commerce websites –and, in January 2016, Teabox, an online premium Indian Tea seller,[25] and CashKaro.com, a discount coupons and cash-back website.[26] He has made small investments in both early and late stage companies in India, such as INR 0.95 Cr in Ola Cabs[27] and INR 1 Cr in Paytm.[28] In April 2015, it was reported that Tata had acquired a stake in Chinese smartphone startup Xiaomi.[29] In October 2015, he partnered with American Express, investing in Bitcoin venture Abra.[30] In 2016, he invested in Nestaway [31] and online pet care portal, Dogspot.[32][33][34] Tata Motors rolled out the first batch of Tigor Electric Vehicles from its Sanand Plant in Gujarat, regarding which Ratan Tata said, "Tigor indicates a willingness to fast-forward India's electric dream. The government has set an ambitious target to have only electric cars by 2030."[35]

Personal life

Tata has remained single throughout his life.[36][37]

Philanthropy

Tata's strong belief of giving wealth back to the people is reflected in his donations of approximately 60-65 per cent of his wealth, especially in the support of education, medicine and rural development, distinguishing him as a leading philanthropist in India.[38]

Tata Hall

In 2010, Tata Group companies and Tata charities donated $50 million for the construction of an executive center at Harvard Business School (HBS).[39] The executive center has been named Tata Hall, after Ratan Tata (AMP '75), chairman of Tata Sons.[40] The total construction costs have been estimated at $100 million.[41] Tata Hall is located in the northeast corner of the HBS campus, and is devoted to the Harvard Business School's mid-career Executive Education program. It is seven stories tall, and about 155,000 gross square feet. It houses approximately 180 bedrooms, in addition to academic and multi-purpose spaces.[42]

Board memberships and affiliations

He is the interim chairman of Tata Sons. He continues to head the main two Tata trusts Sir Dorabji Tata Trust and Sir Ratan Tata Trust and their allied trusts, with a combined stake of 66% in Tata Sons, Tata group's holding company.

He has served in various capacities in organizations in India and abroad. He is a member of Prime Minister's Council on Trade and Industry' and the 'National Manufacturing Competitiveness Council'. He is on the jury panel of Pritzker Architecture Prize[43] – considered to be one of the world's premier architecture prizes.

He is a director on the boards of Alcoa Inc., Mondelez International[44] 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 Dean's Advisors, X Prize[45] and Cornell University.

He is a member on the board of International Advisory Council at Bocconi University[46]

He is also a member of the Harvard Business School India Advisory Board (IAB) since 2006 and previously a member of the Harvard Business School Asia-Pacific Advisory Board (APAB) 2001-2006.

In February 2015, Ratan took an advisory role at Kalari Capital.

In October 2016, Tata Sons removed Cyrus Mistry as its chairman, nearly 4 years after he took over the reins of the over $100 billion conglomerate, Ratan Tata made a comeback, taking over the company's interim boss for 4 months. A selection committee has been formed to find a successor in four months. The selection committee comprising Mr. Tata, TVS Group head Venu Srinivasan, Amit Chandra of Bain Capital, former diplomat Ronen Sen and Lord Kumar Bhattacharya. All of them, except Mr. Bhattacharya, is on the board of Tata Sons.[47]

Honours and awards

Ratan Tata received the Padma Vibhushan in 2008 and Padma Bhushan in 2000, the second and third highest civilian honours awarded by the Government of India.[48]

The other notable awards are:

YearNameAwarding organisationRef.
2016 Commander of the Legion of Honour Government of France [49]
2015 Sayaji Ratna Award Baroda Management Association, Honoris Causa, HEC Paris [50]
2015 Honorary Doctor of Automotive Engineering Clemson University [51]
2014 Honorary Doctor of Laws York University, Canada [52]
2014 Honorary Knight Grand Cross of the Most Excellent Order of the British Empire (GBE) United Kingdom Government [53][54]
2014 Sayaji Ratna Award Baroda Management Association [55]
2014 Honorary Doctor of Business Singapore Management University [56]
2013 Honorary Doctorate University of Amsterdam [57]
2013 Honorary Doctor of Business Practice Carnegie Mellon University [58]
2013 Ernst and Young Entrepreneur of the Year – Lifetime Achievement Ernst & Young [59]
2013 Transformational Leader of the Decade Indian Affairs India Leadership Conclave 2013 [60]
2013 Foreign Associate National Academy of Engineering [61]
2012 Grand Cordon of the Order of the Rising Sun Government of Japan [62]
2012 Doctor of Business honoris causa University of New South Wales [63]
2012 Honorary Fellow[6] The Royal Academy of Engineering[6] [64]
2010 Business Leader of the Year The Asian Awards. [65]
2010 Business for Peace Award Business for Peace Foundation [66]
2010 Honorary Doctor of Laws Pepperdine University [67]
2010 Legend in Leadership Award Yale University [68]
2010 Oslo Business for Peace award Business for Peace Foundation [69]
2010 Hadrian Award World Monuments Fund [70]
2010 Honorary Doctor of Law University of Cambridge [71]
2009 Grand Officer of the Order of Merit of the Italian Republic Italy [72]
2009 Life Time Contribution Award in Engineering for 2008 Indian National Academy of Engineering [73]
2009 Honorary Knight Commander of the Order of the British Empire (KBE) United Kingdom [74]
2008 Inspired Leadership Award The Performance Theatre [75]
2008 Honorary Fellowship The Institution of Engineering and Technology [76]
2008 Honorary Citizen Award Government of Singapore [77]

[78]

2008 Honorary Doctor of Science Indian Institute of Technology Kharagpur. [79]
2008 Honorary Doctor of Science Indian Institute of Technology Bombay. [80]
2008 Honorary Doctor of Law University of Cambridge. [81]
2007 Carnegie Medal of Philanthropy Carnegie Endowment for International Peace. [82]
2007 Honorary Fellowship The London School of Economics and Political Science [83]
2006 Responsible Capitalism Award FIRST [84]
2006 Honorary Doctor of Science Indian Institute of Technology Madras [85]
2005 Honorary Doctor of Science University of Warwick. [86]
2005 International Distinguished Achievement Award B'nai B'rith International [87]
2004 Honorary Doctor of Technology Asian Institute of Technology. [88]
2004 Medal of the Oriental Republic of Uruguay Government of Uruguay [89]
2001 Honorary Doctor of Business Administration Ohio State University [90]

References

  1. ↑ Kapor, Uday. "Oral History of Ratan Tata". YouTube. Computer History Museum [live interview 2017-01-19]. Retrieved 12 September 2018.
  2. ↑ "The amazing story of how Ratan Tata built an empire". Rediff (21 October 2010)
  3. ↑ Tata.com. "Tata Sons Board replaces Mr. Cyrus P. Mistry as Chairman, Selection Committee set up for new Chairman via @tatacompanies".
  4. ↑ "Ratan Tata is chairman emeritus of Tata Sons". The Times of India.
  5. ↑ Masani, Zareer (5 February 2015). "What makes the Tata empire tick?". The Independent (UK). Retrieved 30 April 2016.
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  8. ↑ Langley, William (30 March 2008). "Ratan Tata rode the tiger economy and now he drives Jaguar". The Daily Telegraph. London. Retrieved 31 March 2012.
  9. ↑ "Thank you, Mr Tata, for thinking of the common man!". Rediff.com. 2008-01-11.
  10. ↑ "Ratan Tata goes back to school". Times of India. 31 March 2009. Retrieved 31 March 2012.
  11. ↑ Philip, Handler,; Maddy, Handler,; Productions, Producer: Fly on the Wall (June 2009). "Ratan Tata '59: The Cornell Story".
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  45. ↑ Ray (2008-06-12). "Space Prizes: Ratan Tata and Michael Boustridge Join X PRIZE Foundation Board of Directors". Spaceprizes.blogspot.in. Retrieved 2015-12-02.
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