Ratan Tata to retire tommorow,Cyrus Mistry the next successor

by staff reporter

MUMBAI: Ratan Tata, who led the transformation of the Tata Group  from a conventional corporate house into a $100 billion global conglomerate with high-profile acquisitions abroad, will retire on Friday ending a 50-year run in one of India’s oldest business empires.

Marking a generational change, Tata, who turns 75 tomorrow, will hand over the reins of the group to 44-year-old Cyrus Mistry, who was chosen his successor last year and formally appointed chairman earlier this month.

Source: PTI