Ratan Tata, Chairman of the Indian Tata Group was interviewed by the Financial Times and is quoted as saying:
"non-executive directors warned him that, unless the retirement age was raised from 70 to 75, the group would face a sudden loss of experienced executives"
This tells me two things, first that the non-executive directors need to be fired, as they are not doing one of their most important jobs, having a depth of well trained senior executives in the group with various alternative choices for leadership, both from inside and from outside the company. And, two, Ratan Tata needs to do his most important task and go as soon as possible, being succession planning incorporating alternative choices.
Onésimo Alvarez-Moro
See article:
No one has done more to announce India's arrival on the international business stage than Ratan Tata, chairman of the Tata group, the country's largest conglomerate.
Last week the group unveiled one of the biggest overseas acquisitions in Indian corporate history: the $239m (£135m) purchase of Teleglobe, a Bermuda-based wholesale telecommunications company. The two biggest acquisitions by Indian companies abroad are also Tata deals: the $432m purchase of the UK's Tetley Tea in 2001 and the $289m acquisition of Singapore's NatSteel in 2004.
The Teleglobe deal is another milestone for a man who last month surprised the business world by announcing his intention to remain in office beyond his expected retirement date in two and a half years' time. In a rare interview, the 67-year-old Mr Tata tells the Financial Times why he is staying on and what he hopes to achieve before handing on to a successor.
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