Ratan Tata

Ratan Tata

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

Ratan Naval Tata (born 28 December 1937) is an Indian industrialist, investor, philanthropist and former chairman of Tata Sons. He was the chairman of Tata Group, a Mumbai-based global business conglomerate from 1991 till 2012 and again from 24 October 2016 for an interim term, and continues to head its charitable trusts.[3][4] He is the recipient of two of the highest civilian awards of India–Padma Vibhushan (2008) and Padma Bhushan (2000).[5]

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

Early life

Ratan Tata is the son of Naval Tata, who had been adopted from J. N. Petit Parsi Orphanage by Navajbai Tata. His parents Naval and Sonoo separated in 1948 when he was ten and his younger brother, Jimmy, was seven years old. Both he and his brother were raised by their grandmother Navajbai Tata.[6] He has a half-brother Noel Tata from Naval Tata's second marriage to Simone Tata.

He schooled in Mumbai and Shimla, at the Cathedral and John Connon School and Bishop Cotton School (Shimla).[7] 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, shovelling limestone and handling the blast furnace.[8] He could not turn around group companies, NELCO and Empress Mills, which he was given charge of in the 70s.[9][10] 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 company 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.[11] Under his stewardship, overlapping operations in group companies were streamlined into a synergised whole,[12] 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.[9] 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.[13][14] 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.[9][15] He conceptualised the Tata Nano car.[11] 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.[16]

Ratan Tata relinquished all executive power in the Tata group on 28 December 2012, on 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.[17][18] 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.[19] On 12 January 2017 Natarajan Chandrasekaran was named as the Chairman of Tata Sons, a role he will assume in February 2017.

Recently, he invested his personal savings in Snapdeal - one of India's leading e-commerce website and in Jan 2016 made an undisclosed funding in Teabox — an online store selling premium Indian Tea [20] and CashKaro.com[21] — an online discount coupons and cashback website. Ratan Tata has been making small investments in both early and late stage companies in India. He made investments of INR 0.95 Cr in Ola Cabs[22] and INR 1 Cr in Paytm.[23] In April 2015, it was reported that Tata had acquired a stake in Chinese smartphone startup Xiaomi, with specific terms undisclosed.[24] In October 2015, he partnered with American Express in investing in Bitcoin venture Abra.[25] In Jan 2016, it was reported that Ratan Tata invested in an online Pet care portal called Dogspot.[26][27][28]

Philanthropy

Tata Hall

In the fall of 2010, HBS Tata related companies and charities donated $50 million for the construction of an executive center.[29]

The executive center has been named as Tata Hall, after Ratan Tata (AMP '75), the chairman of Tata Sons.[30] The total construction costs have been estimated at $100 million.[31] The Tata Hall is located in the northeast corner of the HBS campus, the facility is devoted to the Harvard Business School's mid-career Executive Education program. It is seven stories tall with about 150,000 gross square feet. It houses approximately 180 bedrooms in addition to academic and multi-purpose spaces.[32]

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 organisations in India and abroad. He is a member of the 'Prime Minister's Council on Trade and Industry' and the 'National Manufacturing Competitiveness Council'. He is on the jury panel of Pritzker Architecture Prize[33] – considered to be one of the world's premier architecture prizes.

He is a director on the boards of Alcoa Inc., Mondelez International[34] 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[35] and Cornell University.

He is a member on the board of International Advisory Council at Bocconi University[36]

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.

Recently, Ratan Tata has also invested an undisclosed amount in Nestaway in February 2016 [37]

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 come back, 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, are on the board of Tata Sons.[38]

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.[39]

The other notable awards are:

Year Name Awarding organisation Ref.
2016 Commander of the Legion of Honour Government of France [40]
2015 Sayaji Ratna Award Baroda Management Association, Honoris Causa, HEC Paris [41]
2015 Honorary Doctor of Automotive Engineering Clemson University [42]
2014 Honorary Doctor of Laws York University, Canada [43]
2014 Honorary Knight Grand Cross of the Most Excellent Order of the British Empire (GBE) United Kingdom Government [44][45]
2014 Sayaji Ratna Award Baroda Management Association [46]
2014 Honorary Doctor of Business Singapore Management University [47]
2013 Honorary Doctorate University of Amsterdam [48]
2013 Honorary Doctor of Business Practice Carnegie Mellon University [49]
2013 Ernst and Young Entrepreneur of the Year – Lifetime Achievement Ernst & Young [50]
2013 Transformational Leader of the Decade Indian Affairs India Leadership Conclave 2013 [51]
2013 Foreign Associate National Academy of Engineering [52]
2012 Grand Cordon of the Order of the Rising Sun Government of Japan [53]
2012 Doctor of Business honoris causa University of New South Wales [54]
2012 Honorary Fellow[5] The Royal Academy of Engineering[5] [55]
2010 Business Leader of the Year The Asian Awards. [56]
2010 Business for Peace Award Business for Peace Foundation [57]
2010 Honorary Doctor of Laws Pepperdine University [58]
2010 Legend in Leadership Award Yale University [59]
2010 Oslo Business for Peace award Business for Peace Foundation [60]
2010 Hadrian Award World Monuments Fund [61]
2010 Honorary Doctor of Law University of Cambridge [62]
2009 Grand Officer of the Order of Merit of the Italian Republic Italy [63]
2009 Life Time Contribution Award in Engineering for 2008 Indian National Academy of Engineering [64]
2009 Honorary Knight Commander of the Order of the British Empire (KBE) United Kingdom [65]
2008 Inspired Leadership Award The Performance Theatre [66]
2008 Honorary Fellowship The Institution of Engineering and Technology [67]
2008 Honorary Citizen Award Government of Singapore [68]

[69]

2008 Honorary Doctor of Science Indian Institute of Technology Kharagpur. [70]
2008 Honorary Doctor of Science Indian Institute of Technology Bombay. [71]
2008 Honorary Doctor of Law University of Cambridge. [72]
2007 Carnegie Medal of Philanthropy Carnegie Endowment for International Peace. [73]
2007 Honorary Fellowship The London School of Economics and Political Science [74]
2006 Responsible Capitalism Award FIRST [75]
2006 Honorary Doctor of Science Indian Institute of Technology Madras [76]
2005 Honorary Doctor of Science University of Warwick. [77]
2005 International Distinguished Achievement Award B'nai B'rith International [78]
2004 Honorary Doctor of Technology Asian Institute of Technology. [79]
2004 Medal of the Oriental Republic of Uruguay Government of Uruguay [80]
2001 Honorary Doctor of Business Administration Ohio State University [81]

References

  1. ↑ The amazing story of how Ratan Tata built an empire. Rediff (21 October 2010)
  2. ↑ http://www.tata.com/article/inside/tata-sons-chairman-selection-committee
  3. ↑ "Ratan Tata is chairman emeritus of Tata Sons". The Times of India.
  4. ↑ Masani, Zareer (5 February 2015). "What makes the Tata empire tick?". The Independent (UK). Retrieved 30 April 2016.
  5. 1 2 3 "List of Fellows — Royal Academy of Engineering". Raeng.org.uk. Retrieved 2015-12-02.
  6. ↑ Langley, William (30 March 2008). "Ratan Tata rode the tiger economy and now he drives Jaguar". The Daily Telegraph. London. Retrieved 31 March 2012.
  7. ↑ "Ratan Tata goes back to school". Times of India. 31 March 2009. Retrieved 31 March 2012.
  8. ↑ Chidanand Rajghatta (30 December 2007). "Times of India Article: Man of the Year? Its Ratan Tata". The Times of India. Retrieved 25 October 2016.
  9. 1 2 3 Majumdar, Shyamal (21 January 2015). "40 Years Ago ... and Now: Ratan Tata increased dare quotient of Tata group". Business Standard. Retrieved 29 April 2016.
  10. ↑ "Ratan Tata and NELCO Crucible – The untold story.". vivifychangecatalyst. 11 October 2013. Retrieved 29 April 2016.
  11. 1 2 Christopher, Elizabeth; Deresky, Helen (2012). International Management: Managing Cultural Diversity (Second ed.). Pearson Australia. p. 457. ISBN 9781442539679. Retrieved 30 April 2016.
  12. ↑ "The Tata group: Out of India". The Economist. 3 Mar 2011. Retrieved 30 April 2016.
  13. ↑ Aiyar, Shankkar (24 February 2003). "Ratan's Tata". India Today. Retrieved 30 April 2016.
  14. ↑ Goldstein, Andrea (January 2008). "The Internationalization of Indian Companies: The Case of Tata". Center for the Advanced Study of India, University of Pennsylvania. p. 36. Retrieved 30 April 2016.
  15. ↑ Mithas, S. 2015. Making the Elephant Dance: The Tata Way to Innovate, Transform and Globalize (Kindle version is available at http://www.amazon.in/dp/B012G9MSCA). New Delhi: Penguin Portfolio
  16. ↑ "Interview with Ratan Naval Tata". Creating Emerging Markets. Harvard Business School.
  17. ↑ "Cyrus P Mistry to succeed Ratan Tata". Retrieved 23 November 2011.
  18. ↑ "Ratan Tata, India's Corporate Czar, Retires With a $500 Billion Vision". Bloomberg. Retrieved 27 March 2013.
  19. ↑ Goswami, Ranjit (1 November 2016). "Can India’s mega-conglomerate Tata Sons survive its leadership crisis?". The Conversation. Retrieved 25 January 2017.
  20. ↑ "Ratan Tata invests in TeaBox, comes on board as advisor". Business Standard. 27 January 2016.
  21. ↑ "Ratan Tata invests undisclosed amount in online cashback venture CashKaro.com". Economic Times. 19 January 2016.
  22. ↑ "Decoding Ratan Tata’s start-up investments". Livemint. 2015-10-02. Retrieved 2015-12-02.
  23. ↑ "Rtata | Venture Intelligence". Ventureintelligence.com. Retrieved 2015-10-27.
  24. ↑ Flannery, Russell (2 May 2015). "Ratan Tata Investment Underscores How Xiaomi Defies Odds". Forbes. Retrieved 4 May 2015.
  25. ↑ Shin, Laura (22 October 2015). "American Express Invests In Bitcoin Venture, Abra, Which Announces U.S., Philippines Launch". Forbes. Retrieved 11 March 2017.
  26. ↑ "Ratan Tata invests in pet care portal". The Hindu. 2016-01-04. ISSN 0971-751X. Retrieved 2016-07-28.
  27. ↑ Sahay, Priyanka (2016-01-04). "DogSpot raises funds from Ratan Tata, others". Retrieved 2016-07-28.
  28. ↑ "Ratan Tata invests in pet care portal DogSpot.in- Business News". www.businesstoday.in. Retrieved 2016-07-28.
  29. ↑ "Harvard Business School Receives $50 Million Gift from the Tata Trusts and Companies". Retrieved 14 January 2017.
  30. ↑ "Tata Hall Dedicated at HBS". Retrieved 14 January 2017.
  31. ↑ "HBS Tops Off Tata Hall". Retrieved 14 January 2017.
  32. ↑ "A campus built on philanthropy - Tata Hall". Harvard Business School -About us. Retrieved June 19, 2016.
  33. ↑ "The Pritzker Architecture Prize Adds Two New Jurors : Kristin Feireiss of Germany and Ratan N. Tata of India" (PDF). Pritzkerprize.com. Retrieved 2015-12-02.
  34. ↑ "Ratan Tata nominated to the board of Mondelez International". The Times of India. 3 April 2013.
  35. ↑ 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.
  36. ↑ https://www.unibocconi.it/wps/wcm/connect/Bocconi/SitoPubblico_EN/Navigation+Tree/Home/About+Us/Organization/International+Advisory+Council/International+Advisory+Council_Monzini+2010+05+06+04+28
  37. ↑ "Ratan Tata invests in home rental start-up NestAway". Business Standard. 28 Feb 2016. Retrieved 28 Feb 2016.
  38. ↑ "Cyrus Mistry Replaced by Ratan Tata as Tata Sons chairman - The Economic Times". The Economic Times. Retrieved 2016-10-24.
  39. ↑ "Padma Awards" (PDF). Ministry of Home Affairs, Government of India. 2015. Archived from the original (PDF) on 15 November 2014. Retrieved July 21, 2015.
  40. ↑ "Highest French civilian distinction, Commandeur de la Légion d’Honneur conferred on Shri Ratan Tata". France in India: French Embassy in New Delhi. 18 March 2016. Retrieved 31 July 2016.
  41. ↑ "HEC Paris | Ratan N. Tata receives honoris causa degree from HEC Paris". Hec.edu. 2015-04-23. Retrieved 2015-12-02.
  42. ↑ "2015 SC Automotive Summit & SC Auto Week Agenda" (PDF). Myscma.com. Retrieved 2015-12-02.
  43. ↑ "Ratan Tata gets honorary doctorate from York University of Canada". IANS. news.biharprabha.com. Retrieved 22 June 2014.
  44. ↑ "Touched for being awarded GBE by UK: Ratan Tata | business". Hindustan Times. 2014-04-18. Retrieved 2015-12-02.
  45. ↑ "Sir James Bevan presents GBE (Knight Grand Cross) to Ratan Tata — News articles". GOV.UK. 2014-05-05. Retrieved 2015-10-07.
  46. ↑ "BMA to confer Sayaji Ratna Award on Ratan Tata". The Times of India. 6 April 2014. Retrieved 21 August 2014.
  47. ↑ "Mr Ratan Tata receives honorary doctorate from SMU | News | Singapore Management University". SMU. 2014-03-19. Retrieved 2015-12-02.
  48. ↑ "Honorary doctorates from UvA for Ratan Tata and Andre Kuipers — University of Amsterdam". Uva.nl. Retrieved 2015-12-02.
  49. ↑ "Keynote & Honorees-Commencement Weekend — Carnegie Mellon University". Cmu.edu. Retrieved 2015-12-02.
  50. ↑ "EY honors Ratan Tata with life time achievement award". Ernst & Young. Retrieved 6 August 2015.
  51. ↑ "Dr. Mukesh Batra, Dr. Mukesh Hariawala, Dilip Surana of Microlabs, Upinder Zutshi of Infinite Computers, Dr. Ravindranath of Global Hospitals, Ratan Tata, Priyanka Chopra Among Others Declared Winners".
  52. ↑ "National Academy of Engineering Elects 69 Members And 11 Foreign Associates". The National Academies of Sciences, Engineering & Medicine. 7 Feb 2013.
  53. ↑ "Conferment of Japanese Decoration on Mr. Ratan N. Tata, Chairman of Tata Group". Embassy of Japan in India. 29 April 2012. Retrieved 31 July 2016.
  54. ↑ 26 Nov 2012 (2012-11-26). "Indian industrialist Ratan Tata honorary degree | UNSW Newsroom". Newsroom.unsw.edu.au. Retrieved 2015-12-02.
  55. ↑ Lucie George (2012-08-07). "Spotlight on engineering | Foreign Office Blogs". Blogs.fco.gov.uk. Retrieved 2015-12-02.
  56. ↑ "Winners of the Asian Awards 2010". Times of India. October 2010.
  57. ↑ "Seven secure Oslo Business for Peace Awards for 2010 | ICC — International Chamber of Commerce". Iccwbo.org. Retrieved 2015-12-02.
  58. ↑ "Pepperdine Confers Honorary Doctor of Laws Degree on Ratan N. Tata". Pepperdine University. September 2010. Archived from the original on 27 September 2011.
  59. ↑ "Yale Chief Executive Leadership Institute to Honor Tata Sons Chairman Ratan Tata with "Legend in Leadership Award"". Yale University. September 2010.
  60. ↑ Archived 15 April 2014 at the Wayback Machine.
  61. ↑ "2010 Hadrian Award Gala | World Monuments Fund". Wmf.org. 2010-10-13. Retrieved 2015-12-02.
  62. ↑ "Honorary degree 2010 nominations announced | University of Cambridge". Cam.ac.uk. 2010-03-15. Retrieved 2015-12-02.
  63. ↑ "Presidenza Del Consiglio Dei Ministri : Collocati A Riposo (Art: 7)" (PDF). Governo.it. Retrieved 2015-12-02.
  64. ↑ Archived 24 July 2014 at the Wayback Machine.
  65. ↑ "GBE: Ratan Tata receives one of UK's top civilian honours". The Economic Times. 5 May 2014. Retrieved 20 June 2015.
  66. ↑ "The award". The Performance Theatre. Retrieved 2015-12-02.
  67. ↑ "IET Honorary Fellows". The IET. 2015-10-28. Retrieved 2015-12-02.
  68. ↑ Archived 8 December 2015 at the Wayback Machine.
  69. ↑ "Singapore Confers Prestigious Honorary Citizen Award on Mr Ratan N. Tata". www.mom.gov.sg. 2008-08-29.
  70. ↑ "IIT Kharagpur confers doctorate on Ratan Tata". Economic Times. March 2008.
  71. ↑ "Ratan Tata gets smarter by a degree". Mumbai Mirror. August 2008.
  72. ↑ "University of Cambridge confers doctorate on Ratan Tata". University of Cambridge. March 2008.
  73. ↑ "Carnegie Medal for Philanthropy on Ratan Tata". Carnegie Endowment for International Peace. March 2007. Archived from the original on 8 October 2011.
  74. ↑ "Ratan Tata becomes an LSE honorary fellow - 2007 - News archive — News — News and media — Home". Lse.ac.uk. Retrieved 2015-12-02.
  75. ↑ "Ratan Tata wins responsible capitalism award | Business Standard News". Business-standard.com. Retrieved 2015-12-02.
  76. ↑ "Young engineers should stay back to serve the nation, says Ratan Tata — TAMIL NADU". The Hindu. 2006-07-29. Retrieved 2015-12-02.
  77. ↑ "University of Warwick confers Honorary Doctor of Science on Ratan Tata". London School of Economics. March 2005.
  78. ↑ "B'Nai B'Rith International : Past Award Honorees" (PDF). Bnaibrith.org. Retrieved 2015-12-02.
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  81. ↑ "Honorary Degree — University Awards & Recognition — The Ohio State University". Osu.edu. Retrieved 2015-12-02.
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