Tata Sons has stated that Ratan Tata has no plans to step down from the chairmanship of Tata Trusts at the current juncture. Tata, however, stated that he was keen to have a process in place for a smooth succession.

“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,” Tata Sons said in a statement. The statement follows media reports suggesting that Ratan Tata is likely to step down as chairman of Tata Trusts. The trusts hold 66% in the holding company of the group.

Tata also emphasised 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,” the statement added.

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