According to a statement released by the Tata Group late on Wednesday, Ratan Tata, the former chairman of the company who brought a stifling and expansive Indian corporation to the attention of the world through a series of high-profile acquisitions, has passed away. He was eighty-six.
Two people with firsthand knowledge of Tata’s health condition told Reuters early on Wednesday that the chairman of the group for more than two decades, Tata, had been receiving critical treatment in a hospital in Mumbai.
He returned to India after earning an architecture degree from Cornell University, where he started working for the organisation his great-grandfather had started almost a century earlier in 1962.
He worked for several Tata enterprises, including Tata Steel Ltd. and Telco, which is now Tata Motors Ltd. He later made a name for himself at the group company National Radio & Electronics Company by reducing losses and growing market share.
When his uncle J.R.D. Tata resigned in 1991, he assumed leadership of the conglomerate. This transition occurred at the same time that India started implementing significant reforms that opened its economy to the world and ushered in a period of rapid expansion.
Ratan Tata’s initial actions included raising control over enterprises, elevating younger individuals to senior positions, and imposing retirement ages to limit the influence of some of the Tata Group’s business leaders.
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