Back in November last year, a rumor was doing rounds surrounding the 72 year old tycoon who has presence in businesses from salt to software; is looking for someone to step into his shoes in the near future. The rumor was confirmed by Tata that a five- member panel has been set in place to deliberate and select the future Chairman of the company by March 2011 before the Mr. Tata steps down and creates vacancy for a widely coveted top spot in the Indian corporate world by December, 2012.
“We are working on this and will finalize something by February- March next year. We will announce the name by them.” Tata representative Krishna Kumar said at a press briefing.
With annual revenue of more than $70 billion and with 357,000 employees worldwide, Tata group’s 98 operating companies derive more than 65 percent of revenue from overseas. Given that base, Tata Group could see its first non- Indian Chairman. The most likely candidate outside the family is speculated to be Mr. Arun Sarin, former Chief Executive of British mobile phone giant Vodafone. However if Ratan Tata decides to go for someone within the family, his half brother, 53 year old Noel Tata seems to have a bright chance of grabbing the top spot and becoming the immediate successor.