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Ratan Tata denies reports of stepping down as chairman of Tata Trusts

Hours After Reports Suggested That Ratan Tata Is Likely To Step Down As The Chairman Of Tata Sons, The Patriarch Denied The Claims. Tata Sons Clarified In A Statement That Ratan Tata Has Said There Are No Such Plans At This Point Of Time.

News Nation Bureau | Edited By : Bindiya Bhatt | Updated on: 16 Dec 2016, 01:22:36 PM
A file photo of Ratan Tata (Pic: PTI)

New Delhi:

Hours after reports suggested that Ratan Tata is likely to step down as the chairman of Tata Sons, the patriarch denied the claims.

Tata Sons clarified in a statement that Ratan Tata has said there are no such plans at this point of time.

“Ratan Tata has clarified that there r no plans for his stepping down from chairmanship of Tata Trusts at this point in time,” Tata Sons reportedly said in a statement.

On Friday, a report in a leading English daily had claimed that Ratan Tata is most likely to step down next year as the chairman of the Tata Trust that controls 66% per cent in Tata Sons, the holding company of the $108 billion Tata Group.  

The daily had also reported that the next chairperson will be an India but not necessarily a Parsi or a Tata-family member. 

ALSO READ | Ratan Tata to relinquish post of chairperson of Tata Trust next year: Report

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First Published : 16 Dec 2016, 01:18:00 PM