Ratan Tata, the Indian tycoon and former chairman of the Tata Group, died at the age of 86. He was one of the most recognized business leaders in India, the server recalls BBC.
In a statement on his death, the current chairman of Tata Sons described him as “a truly remarkable leader”. “On behalf of the entire Tata family, I offer our deepest condolences to his loved ones,” he wrote, “His legacy will continue to inspire us and we will strive to uphold the principles he instilled.” .
Tata was receiving intensive care at a hospital in Mumbai, they said Reuters two sources familiar with his medical condition.
Ratan Tata became the head of the Tata Group after the departure of his uncle. He made several radical changes in the company: he promoted young people to leadership positions and increased control over affiliated companies.
The company bought several companies outside India, including, for example, the British tea company Tetley or the British-Dutch steel company Corus. Tata Motors managed to acquire the luxury car brands Jaguar and Land Rover from Ford. At home, the company celebrated success with, for example, the Indica car. During the 21 years he headed the Tata Group, the company’s revenue grew more than 40 times and profit more than 50 times.
Tata has received several awards for his work, including the Padma Vibhushan, India’s second highest civilian honor for outstanding service to business and industry. He was also one of the world’s greatest philanthropists, giving more than 90 percent of his wealth to charity.
2024-10-09 19:30:00
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