Outgoing chairman of the $100 billion Tata group, Ratan Tata, has been conferred the honorary title of Chairman Emeritus of the group by Tata Sons. Cyrus Mistry will take the chairmanship.
As chairman emeritus, Tata will not attend Tata Sons board meetings or have any day-to-day responsibility.
Before Ratan Tata, JRD Tata had also been conferred this title by Tata Sons. While JRD had left the chairman’s position at the Tata group trusts, Sir Dorabji Tata Trust and Sir Ratan Tata Trust, Ratan Tata would continue to remain the chairman of these trusts, which together have 66 per cent stake in Tata Sons.