A Letter Of Appreciation By Ratan Tata To Employees Of The Group
The Tata Trusts, who owns two-thirds of Tata Sons, were instrumental in eliminating Mistry, (first as a chairman and then as a director) on October 24, 2016. This was considered as one of the biggest feuds in India’s corporate history. Recently, Natarajan Chandrasekaran took over as Tata Sons new chairman.
The J.N Tata Endowment, the oldest of the trusts, dates back to 1892. On the 178th birth anniversary of Tata Trusts Founder, Jamsetji Nusserwanji Tata, Ratan Tata wrote a letter to the employees of the group and thanked them for zeal and hard work. He wrote, “You bring your zeal, your vigour, your integrity and most importantly your hard work. It is because of you that we can derive and obtain the opportunity and the privilege to serve our community and through that, our nation.” He carries on, “This year (2017) also marks the completion of 125 years of Tata Trusts. As one of the largest stakeholder communities for Trusts, you as Tata employees have played an important role in making the legacy come alive and we hope that you are proud of our group’s capacity of thinking beyond business.” About 66 per cent stake in Tata Sons is owned by the Tata Trusts.
In Jamshedpur, Tata praised the new chairman, N Chandrasekaran, who took the over on February 21. He said that Tata Group is in the safe hands of Chandrasekaran, and he will take the city and the group a new level of progress and growth. “The group and Jamshedpur city are in safe hands. It is a matter of pride — Chandra being an internal person of the group and having an impeccable record,” he said.