Ratan Tata Not Stepping Down As Chairman, Says Tata Trust: Full Statement

Mumbai: Ratan Tata has denied that he is likely to step down soon as chairman of the Tata Trusts after a report this morning by the Times of India, which cited the patriarch's long-time confidant suggesting that Mr Tata will likely step down. A statement from Tata Sons, India's largest corporate group said that "the Trusts were undertaking many initiatives that had national impact and he (Ratan Tata) 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."

Please see the statement below: