Mumbai: Tata Sons Interim Chairman Ratan N. Tata today hinted at possible changes in the group companies and urged them to “act as leaders in their respective markets and enhance returns to shareholders”.
“The companies must focus on their market position vis-a-vis competition, and not compare themselves to their own past. The drive must be on leadership rather than to follow it,” Tata said, speaking to the group companies’ managing directors and senior corporate leaders.
He urged the top leaders of the group companies to focus on their respective businesses, “without being concerned about change in leadership”.
This is the first reaction from Tata a day after he was named as Tata Sons Interim Chairman in the wake of dizzying developments leading to the removal of Cyrus P. Mistry as Chairman.
He added that he looked forward to working with his team as they had done together in the past.
Mistry, 48, born in Ireland, had taken over as Chairman of Tata Sons barely four years ago, in December 2012.
However, Mistry has not reacted officially on the development leading to his removal from Tata Sons, though speculation was rife over his next course of action.