RATAN NAVAL TATA
Ratan Naval Tata, present chairman of Tata group was born on December 28, 1937, in Mumbai. He was born into the wealthy and famous Tata family. Ratan is the great grandson of Jamsedji Tata founder of Tata group. Rattan’s childhood was troubled, his parents separated in the mid-1940s. Ratan and his brother were raised by their grandmother. Ratan Tata owns 1% shares in Tata sons, the holding company of Tata group valuing his total personal wealth at approximately US $ 1 billion. CAREER:
Ratan Tata completed a BS degree in architecture with structural engineering from Cornell University in 1962, and the Advanced Management Program from Harvard Business School in 1975.After completing his BS degree he was offered a job with IBM which he turned down on the advice of JRD Tata. He was first sent to Jamshedpur to work at Tata Steel. He worked on the floor with other blue-collar employees. In 1971, Ratan was appointed the Director-in-Charge of the National Radio & Electronics Company Limited (NELCO), a company that was in dire financial crisis. At that time NELCO had only 2% share in market and a loss margin of 40%. From 1972 to 1975, NELCO eventually grew to have a market share of 20%, and recovered its losses. In 1975 a state of emergency was declared by then prime minister of India Mrs. Indira Gandhi which led to economical recession followed by union problems. This was a huge setback on NELCO and finally Tatas shut down the company. In 1977, Ratan was entrusted with Empress Mills, a textile mill controlled by the Tatas. When he took charge of the company, it was one of the few sick units in the Tata group. Ratan managed to turn it around and even declared a dividend. However, competition from less labor-intensive enterprises had its toll on Empress. Ratan recommended little investment in empress to management. But the board of directors took the line that the empress should be liquidated and finally company was shut. Ratan was...
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