A day after taking over as the interim chairman of Tata Sons, Ratan Tata on Tuesday met CEOs of Group companies and told them to work towards taking leadership positions in their respective businesses.
“The companies must focus on their market position vis-à-vis competition, and not compare themselves to their own past. The drive must be on leadership rather than to follow,” he said, addressing managing directors and senior leaders of Tata companies, according to a press release from Tata Sons .
A number of Group companies, including telecom, steel and auto, are facing headwinds in a highly competitive market.
The Group companies have been struggling to regain lost ground in most sectors.
Referring to ongoing initiatives in the companies, Tata said: “We will evaluate and continue to undertake those that are required. If there is any change, they will be discussed with you.”
Stability and continuity Tata reiterated that he had assumed the role of the Interim Chairman for stability and continuity so that there is no vacuum. “This will be for a short time. A new permanent leadership will be in place,” he emphasised.
“I look forward to working with you as we have worked together in the past. An institution must exceed the people who lead it. I am proud of all of you, and let us continue to build the group together,” he added. Tata Sons has already announced that a selection committee has been constituted to choose a new Chairman, and will complete its mandate in four months.
Committee members The Committee comprises Ratan Tata, Venu Srinivasan, Amit Chandra, Ronen Sen and Lord Kumar Bhattacharyya. It has been mandated to complete the selection process in four months. A few names of possible replacements for Mistry are already doing the rounds. Noel Tata and Indra Nooyi are some of the names that industry insiders are betting on.