The Interim Chairman of Tata Sons, Mr. Ratan N. Tata, has asked Tata companies to act as leaders in their respective markets and enhance returns to shareholders.
“The companies must focus on their market position vis-à-vis competition, and not compare themselves to their own past. The drive must be on leadership rather than to follow,” he said, addressing Managing Directors and senior leaders of Tata companies.
Mr. Tata said, “I look forward to working with you as we have worked together in the past. An institution must exceed the people who lead it. I am proud of all of you, and let us continue to build the group together.”
He asked the leadership of the companies to focus on their respective businesses, without being concerned about change in leadership. Referring to ongoing initiatives in the companies, he said, “We will evaluate and continue to undertake those that are required to. If there is any change, they will be discussed with you.”
Mr. Tata reiterated that he had assumed the role of the Interim Chairman for stability and continuity so that there is no vacuum. “This will be for a short time. A new permanent leadership will be in place,” he emphasised.
Tata Sons has already announced that a Selection Committee has been constituted to choose a new Chairman, and will complete its mandate in four months.