Tata group Emeritus Chairman Ratan N Tata has step downed the 33-year long association with Bombay Dyeing & Manufacturing Company, according to textile major announcement.
Tata had retired as the Chairman of the over $100 billion Tata group after a 50—year run at one of country’s oldest business empires.
As the reports spread over Mr. Ratan resignation from textile major board, the share fell, closed trading at 3% down on BSE.
Sources said that the company reported a net loss of Rs 26.86 crore for the previous fiscal, third quarter ended December 2012.
It is the same period when Tata had decided to resign from his post and passed to 44-year-old Cyrus Mistry for moving towards a well business agenda with next generation.
Tata, the era of $100 billion Tata group, had play a 50-year excellent journey in the company as being the soul of the group.
In one of country’s oldest business empires, Tata ranked the group at the top position among the major companies and served for 21 years as Chairman after being chosen successor by his uncle, the iconic JRD Tata, in 1991.
Over all credit to transform the oldest empire into $100 bn has only passed to 75-year old business leader Tata whose several major decisions including large global acquisitions has set the Group at this level.
