An institution must exceed the people who lead it: Ratan Tata to senior executives

A day after taking over as the interim Chairman of Tata Group, Ratan Tata on Tuesday told the senior executives of the Tata Group that an "institution must exceed the people who lead it".

"The companies must focus on their market position vis-a-vis competition, and not compare themselves to their own past. The drive must be on leadership rather than to follow," he said, addressing Managing Directors and senior leaders of Tata companies.

Ratan Tata added that he looks forward to resuming his role as the interim Chairman.

"I look forward to working with you as we have worked together in the past. An institution must exceed the people who lead it. I am proud of all of you, and let us continue to build the group together," he added.

He asked the leadership of the companies to focus on their respective businesses, without being concerned about change in leadership, a media release issued by the company said.

On the business challenges that Tata Group presently faces, Tata said: "We will evaluate and continue to undertake those that are required to. If there is any change, they will be discussed with you."

Earlier in the day, Tata met the Group's top officials at Bombay House. 

The meet was called so that Tata could address concerns that top officials had raised regarding possible changes.

Speaking on Mistry's ouster, Ratan Tata told India Today TV that "It is not an ownership battle".

After taking over as the interim Chairman of the Tata Sons, Ratan Tata yesterday wrote to employees stating that he had agreed to take up the role of interim Chairman in the interest of stability and reassurance to the group.

The removal of Mistry was backed by the Tata Trusts, which hold a commanding 66 per cent stake in Tata Sons. Mistry, however, remains a director on the board.

Hours after the Board of Directors decided to remove Mistry as the Chairman of Tata Sons, the Pallonji Mistry-controlled Shapoorji Pallonji group termed the removal 'illegal' and decided to challenge the Board's decision in Mumbai High court.

Mistry is the son of Pallonji, who controls over 18 per cent of equity in Tata Sons.