'Ratan Tata not stepping down as chairman of Tata Trusts'

Mumbai, Dec 16  Tata Sons on Friday said that its interim Chairman Ratan Tata has no plans to step down from the chairmanship of the Tata Trusts.

"Further to news reports that have appeared in the media today, Ratan Tata, Interim Chairman, clarified that there are no plans for his stepping down from the chairmanship of the Tata Trusts at this point in time," Tata Sons said in a statement.

"The reference to the media discussion with some trustees relate to the process being put in place for the leadership succession in the Trusts in the future, to enable an ordered and smooth transition of leadership."

Tata emphasised that the 'Trusts' were undertaking many initiatives of national impact and that he is looking forward to continue 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," the statement added.

Tata Trusts hold 66 per cent stake in the holding company of the industrial conglomerate Tata Sons.