Ratan Tata calls Tata employees inheritors and custodians of Tata Trusts
Mar 3, 2017, 17:30 IST
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The charitable trust owns 66% of Tata Sons, which is the holding entity of all companies controlled by the conglomerate that deals in a variety of interests, ranging from salt, cars, technology and steel.
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"You bring your zeal, your vigor, your integrity and most importantly your hard work. It is because of you that we can derive and obtain the opportunity and the privilege to serve our community and through that, our nation," Tata wrote in a letter on the occasion of the 178th birth anniversary of Tata Trusts founder Jamsetji Nusserwanji Tata. It’s also the 125th year of the philanthropic organization.
It was in 1892 that Tata Trusts was set up, in the form of the JN Tata Endowment, followed by Sir Ratan Tata trust in 1919, Sir Dorabji Tata Trust in 1932, the JRD Tata Trust in 1944, the Navajbai Ratan Tata Trust Jamsetji Tata Trust in 1974 and lastly, the Tata Education and Development Trust in 2008.
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However, only recently it was in the news because of former Tata Sons chairman Cyrus Mistry questioning its governance structure and ambit of power. It was October 24, 2016 that Mystry was ousted from his post, which led to the feud.
Four months later, on February 21 2017, N. Chandrasekaran was appointed the new chairman of the Tata group. Chandrasekaran had earlier served as the CEO of TCS.
Chandrasekaran also wrote a letter of encouragement to his employees, saying that higher shareholder value and business performance can be achieved if the conglomerate focuses relentlessly on customers and use innovation to reinvent its businesses.
(Image source: Garavi Gujarat)
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