The TATAs are known for starting businesses on the principles of philanthropy( being a Parsi following Zoroastrian faith)
This book covers how Cyrus Mistry(having his forefathers organisation SP Group holding 19.2% shares in TATA) was apppointed as the Chairman and was the shortest Chairman to be in the board, being fired by TATA just after 4 years(Nov 2011 - Sept 2016). He was fired of having personal interests to route business from TATA’s to his forefathers company SP Group of which Mistry was a 50% shareholder - thus not visioning for company’s best interests but his.
Natarajan Chandrasekaran(CEO of TCS - TATA’s organisation within IT umbrella) was a probable candidate but was shrugged off by the board considering he looked after TCS - the highest revenue generating business in TATA’s cap.
Chandra(Natarajan Chandrasekaran) was now appointed as Chairman.
The TATA could not continue as a family empire because kids could not be born to leading faces of TATA, unfortunately. But being Parsis and following certain Parsi rules, kids were adopted from extended families.
Ratan Tata is son-of-the-first-wife of Naval Tata(adopted by Navajbai Sett). Ratan Tata’s parents got divorced when he was 3YO, and he has been raised by his step grandmother thus.
JRD Tata was not a direct heir to TATA group either.
TATAs business line:
1822 - Trading Firm by Nusserwanji
1859 - Jamsetji graduated and masted commodities. Opened Cotton and Opium trade with China
1869 - Jamsetji along with father Nusserwanji bought and converted Oil Mill at Chinchpokli to Cotton Mill
1871 - sold this Cotton Mill
1874 - founded Empress Cotton Mills in Nagpur
Jamsetji set 4 long term corporate goals which included acts of PHILANTHROPY:
1. Iron and steel plant
2. hydroelectric power to india - 1915; completed by ratanji tata
3. world class institute of science - 1896 to 1909, Institute of Science and Technology, blr
4. World class hotel - taj palace, mumbai, 1903.
