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Tata Group forms panel to seek Ratan Tata’s successor

Tata Group, the giant Indian industrial conglomerate, has set up a five-member panel to find a successor for its chairman, 72-year-old Ratan Tata, the Financial Times reported.

Tata Sons, the group's holding company, released a statement saying it had begun a global search and will consider external as well as internal candidate, the article said. Tata is due to retire in December 2012 and has been chairman for nearly 20 years, the FT reported.

In recent days, Noel Tata, Mr. Tata's 53-year-old half brother, has been appointed as head of the group's international operations, raising the prospect that he might be a likely candidate as future chairman.

Ratan Tata is the great-grandson of Jamsedji Tata, who founded the company. Tata Group now has 98 operating companies, the article said. (Source: Financial Times, Aug. 4, 2010.)

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