Ratan Tata not to step down as chairman of Tata Trusts: TATA Statement

Mumbai: Industrialist Ratan Tata on Friday clarified that there are no plans for his stepping down from the chairmanship of the Tata Trusts at this point in time. According to the company’s statement, “the reference to the media discussion with some Trustees relate to the process being put in place for the leadership succession in the Trusts in the future, to enable an ordered and smooth transition of leadership.” Tata also emphasized that the Trusts were undertaking many initiatives that had national impact and he is looking forward to continuing his involvement with these initiatives in the Trusts. "He was however keen that a process should be in place for a smooth succession at an appropriate time," the statement added. Tata Trusts hold 66 per cent stake in the holding company of the industrial conglomerate Tata Sons.