Ratan Tata passes away: He led the company that his great-grandfather started more than a century ago until 2012, when he was appointed chairman of the $100 billion steel to software conglomerate in 1991.
At the age of 86, Ratan Tata, the chairman emeritus of Tata Sons, one of the largest corporations in India, passed away. The industrialist only on Monday denied rumors about his health in a social media post and stated that, because of his advanced age, he was going through standard medical examinations.
In a statement released late on Wednesday night, N Chandrasekaran, Chairman of Tata Sons, confirmed the passing of Mr. Tata and praised the businessman for his steadfast devotion to innovation, quality, and honesty.
“It is with a profound sense of loss that we bid farewell to Mr. Ratan Naval Tata, a truly uncommon leader whose immeasurable contributions have shaped not only the Tata Group but also the very fabric of our nation,” said Chandrasekaran.
“Mr. Tata was more than just the Tata Group’s chairman. To me, he was a mentor, advisor, and companion. He set an example for others. Mr Chandrasekaran stated that under his leadership, the Tata Group increased its global footprint while keeping loyal to its moral compass, thanks to an unshakable commitment to excellence, honesty, and innovation.
Mr Chandrasekharan recalled Mr Tata’s philanthropic contributions, saying that “from education to healthcare, his initiatives have left a deep-rooted mark that will benefit generations to come”.
As the news spread, accolades from the business and beyond began to come in.
Prime Minister Narendra Modi led the tributes, describing the industrialist as “a compassionate soul and an extraordinary human being”. “Shri Ratan Tata Ji was a visionary corporate leader, a caring individual, and a remarkable human being. He offered consistent leadership to one of India’s oldest and most famous corporate houses. At the same time, his work extended well beyond the boardroom. He endeared himself to many people with his humility, generosity, and unwavering commitment to improving our society,” the Prime Minister wrote in a series of tweets accompanied by photos.
Gautam Adani praised the industry titan, stating that “legends like him never fade away”.
“India has lost a giant, a visionary who reshaped contemporary India’s path. Ratan Tata was more than just a businessman; he reflected the spirit of India via his integrity, compassion, and unrelenting devotion to the greater good. Legends like him never go away. “Om Shanti,” wrote Mr Adani.
In 2008, he was awarded the Padma Vibhushan, India’s second-highest civilian accolade. In 2000, he won the third highest award, the Padma Bhushan.
The largest shareholder in the Tata Group
Pallonji Shapoorji Mistry, another Parsee businessman, is Tata Group’s largest shareholder, with an 18% stake valued at £5 billion. His son-in-law, Noel, is Ratan Tata’s half-brother.
