Ratan Tata denies the rumors to steps down as Interim chairman

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Tata Group chairman Ratan Tata speaks at the annual general meeting of Tata Consultancy Services (TCS) in Mumbai on July 2, 2010. India's largest software exporter TCS reported earlier a stronger-than-expected 47 percent jump in quarterly profit from a year earlier thanks to strong outsourcing demand. The figures were another sign that India's flagship outsourcing sector could be turning the corner after the global financial slump that hit the industry's key US market particularly hard.  TCS and other outsourcing companies have made India a top business destination by offering software development and information technology, engineering and design, and business process outsourcing.  AFP PHOTO/Indranil MUKHERJEE

After the rumors which got viral in the media later this morning about the Ratan Tata exist from the Tata Sons trust a new chapter came in a mid way.  After seeing the rumor flowing around, Ratan Tata denies the hoax about his exists as an interim chairman from Tata son’s trust.

While responding to the alleged reports, Ratan Tata denies the report and clarifies that he has no plans to step down from the post of interim chairman of Tata Trust at this point of time.

Tata Sons issued a Press statement, “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. 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”.

However, a leading daily published the confirmation report which says that Ratan Tata would step down from his interim chairman post.

R K Krishna Kumar said while interacting with the media, “The next chairman has to be someone who has the right vision and be in complete alignment with the will of the Tata group founders”.

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