Tata Group will see a new dawn on December 28 2012 when Cyrus P Mistry will take over as the Chairman of Tata Steel and Tata Chemicals.
Ratan N Tata retirement from group chief will come into effect from Dec 28.
Company announced on Thursday, "The board of directors of Tata Motors today (Thursday) announced the appointment of Mistry as the chairman of the board with effect from Dec 28, on the retirement of Ratan Tata".
According to the statement, the company's board conferred on Ratan Tata with the honorary title of chairman emeritus.
Mistry, currently Vice Chairman of the Tata group that spread in automobiles, IT, hotels, tea and steel industries across 80 countries of the world.
Mistry was appointed as Deputy chairman of Tata Sons Limited in November. He was also appointed as Chairman of Tata Global Beverages last month.
Mistry is being groomed lately to be inducted as the new Chairman. Ratan Tata has made way, allowing Mistry to take big decision by himself. He also urged to Mistry that he should be his own and not try to fit in my shoes.
Ratan Tata said that he has not passed a success mantra to Mistry, "No, I told him the same things that I told myself when JRD (late JRD Tata) handed over the mantle to me. The first reaction of anybody is to be Mr JRD Tata because you are filling his shoes. "I instantly told myself, 'I can never do that'. I will never be him much as I try to imitate him. So I took a decision to be myself and to do what I thought was the right thing. I told Cyrus the same thing".
(with inputs from IANS)