New Delhi: Tata Sons on Friday clarified that Ratan Tata has no plans now of stepping down from the chairmanship of the Tata Trusts.
A statement issued by the Tata Sons reads, "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," it said.
"Mr. Tata also emphasized that the Trusts were undertaking many initiatives that had national impact and he is looking forward to continuing his involvement with these initiatives in the Trusts. He was however keen that a process should be in place for a smooth succession at an appropriate time," it reads.
Tata's reaction came after a section of media reported that Ratan Tata is most likely to step down as chairman of the Tata Trusts. Some quoted Tata's long-time confidant R K Krishna Kumar, saying, "The next chairman of the Trusts will be an Indian, but not necessarily a Parsi or a member of the Tata family."
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