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Ratan Tata to Leave Today

Ratan Tata, who directed the revolution of the Tata group from a straight corporate house into a $100 billion global corporation with high-profile acquisitions overseas, will retire on Friday, will be ending of 50-year run in one of India's oldest business empires.

Marking a generational transform, Tata, who turns 75 on Friday, will pass over the wheel of the group to 44-year-old Cyrus Mistry, who was elected his heir in 2011 and officially appointed Chairman previous in December.

Tata is hanging up his boots after routing the group for 21 years as its Chairman, when he followed the legendary JRD Tata. Although JRD built Tata the Chairman out of the blue in 1991 RPT 1991, Mistry of the Shapoorji Pallonji group and whose family possesses 18 per cent stake in Tata Sons, was elected by a five-member selection committee.

When he took over in 1991 the group just had an income of about 14,000 crore, today its returns is more than 4, 75,000 crore. Ratan Tata was born as Ratan Naval Tata in December 1937 and is the taken on great-grandson of Tata group founder Jamshedji Tata.

He was the power behind the attainment of global brands like Tetley, the Anglo-Dutch steel maker Corus and Jaguar-Rover. His dream to change the group into a global giant resulted in high profile acquirements such as Tata Tea's takeover of UK brand Tetley for $450 million in 2000.

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