Ratan Tata

Ratan Tata Biography

Rata Naval Tata
•Born- 28 December,1937 in Bombay, British India
•Occupation-  Chairman of Tata Group (till December 2012)
•Net worth-  
•Alma mater- Cornell university and Harward university
•Nationality- Indian
•Ethnicity- Parsi
•Religion- Zoroastrian  
•Marital status- unmarried
•Grandson- Jamshedji Tata

One of the most recognizable as well as distinguished names in business for almost five decades of which he spent almost three decades at the helm of affairs in the company. The praises and bouquets that he received and continues to for carrying forward the Tata legacy today came as a result of his strenuous and continual hard work. He was able to infuse change in the setup  converting an India centric company into a totally global entity. So much so that today it is hard to believe that the same Ratan Naval Tata was criticized for his lack of business experience in running a company the scale of Tata’s.

Ratan Tata Early Life- Ratan Tata is great grandson of Jamshedji Tata, the founder of the Tata Group. His parents separated when he was 7 years old and his brother Jimmy was five years old. The two boys were raised by their grandmother Lady Navajbhai. He studied at the prestigious Campion School Coloba and at the Cathedral and John Cannon in Fort Mumbai. Tata completed his BS in Architecture with Structural Engineering from the Cornwell University in 1962 and completed his advanced management program from Harward Business School in 1975.
 
Ratan Tata Business Career- Ratan Naval Tata started his career in 1962  just after completing his Bachelors. He initially worked on the shop floor of Tata Steel, shoveling limestone and handling the blast furnace. In 1971 he was appointed as the Director of National Radio and Electronics (Nelco). The company was experincing a loss of 40 % and the market share of the company was a meager 2%. However he was able to convert the company’s market share to 25 %. By this time the emergency was imposed. A weak economy and labor problems saw Nelco collapse yet again.  He remained away from business for two years to pursue an Advanced Management Program at the Harward Business School. His next assignment came in 1977. He was asked to cause a turnaround in the fortune of Empress Mill. However he refused a 50 lakh investment scheme required for reviving the textile. The company was finally closed in 1986. In 1981 when the company chairman JRD Tata stepped down Ratan Tata was selected as the next man. At first this decision was heavily criticized.  In 1991 he was appointed as the Group Chairman of the Tata Group. During his tenure he was responsible for the acquisitions of Tetley, Jaguar Revo and Corus. Apart from that he was also responsible for the development of Indica and Nano. He is widely remembered as the turnaround man for the Tata group following the liberalization controls of the 1990’s. Ranked overall as India’s most popular CEO he is set retire in December of 2012 and to be succeeded by Cyrus Mistry son of Pallonji Mistry.
 
Ratan Tata Personal life- There are many contradictions about his personal life. The fact of the matter still remains that he is unmarried. However in an interview he admitted that he came close to getting married four times, but each time he backed out because of one or another reason. He also admitted that he was serious in a relationship almost four times. He also admitted that his affair in 1960 was more serious than the others.
 
Ratan Tata Net worth- Ratan Tata network is estimated $ 970 million. He does not feature in any rich list because a large part of the company’s revenue (approximately 65.8%) is in the hands of charitable societies.

Ratan Tata Car Collection- Ratan Tata’s love for cars is well documented and what better way to present this section than to  present the opninon that he has for each of his cars.
•Ferrari California- “It’s the most exhilarating car I have. The sound is fantastic and it turns heads.”
•Maserati Quattroporte- “It’s softer than the Ferrari and is also terrific to drive.”
•Cadillac XLR- “This roadster is one of my favorites. The acceleration is impressive and the suspension is quite stiff by American standards.”
•Chrysler Sebring- “I just love the color of this car. In fact, the Indica we first showcased in Geneva in 1998 was painted the same color.”
•Land Rover Freelander- “It drives quite well and I love the red upholstery.”
•Mercedes 500 SL- “When I got it, it was terrific but it’s now just another car.”
•Mercedes S Class- “It’s for normal use and after the sports cars it feels like butter and goes like a glider!”
•Indigo Marina- “I’ve removed the backseat and put a mattress to take my dogs in it.”

 Ratan Tata Trust- the Ratan Tata Trust is philanthropic organization that was established in accordance with the will of Jamshedji Tata. The Navajbhai Ratan Tata trust formed in 1974. This trust works with the SRTT to bestow grants.  The trust disperses various funds for the development of society. The following grants are dispersed by the trust.
•Institutional grants
•Grants for livelihood and communities
•Health Grants
•Endowment grants
•Health Grants
•Small Grants
•Individual Grants

Ratan Tata Quotes-
•On Nano- “The problem with bringing something likes the Nano to the US or Europe is that the markets demand more equipment and drive ability. There are also a lot more stringent rules in terms of crash testing and emissions because this is what people have come to expect.”
•His legacy- “My legacy is a company on the move and the ability to move with the times. I have not told my successor Cyrus Mistry how he should run the business in the future, that is entirely up to him.”
•On Britain- “Britain needs a real push. It needs nationalism. The sort of spirit that comes during a war. It needs people really to want to see the UK sitting again, maybe not as a colonial power, but as an economic power.”
•On  competition-“ I think the environment has become more competitive. That has made Indian industry more concerned with a) its customers, b) the quality of its products, and c) its brand image in the marketplace.”
•On market capitalization- “We are probably not doing enough to build the Tata brand globally, but we are one of the most recognizable corporate names coming out of India. Apart from size, market capitalization and the rest, we are seen as a poster boy for ethical business, trustworthy and fair. That’s a model western companies feel comfortable with.”
•Perspective on Tata-“ One hundred years from now, I expect the Tatas to be much bigger than it is now. More importantly, I hope the Group comes to be regarded as being the best in India.. best in the manner in which we operate, best in the products we deliver, and best in our value systems and ethics. Having said that, I hope that a hundred years from now we will spread our wings far beyond India.”

Ratan Tata Latest news-
Ratan Tata steps down as head of Tata Global Beverages
Ratan Tata stepped down as the Chairman of Tata Global with immediate effect from making way for his successor for his Cyrus Mistry. In two separate fillings made at the BSE the company stated that in respective board meetings the Board of director decided the changes as per Tata’s retirement plan. However Tata will continue to be part of the board of directors till his retirement.