Mumbai: The Board of Tata Sons Limited, has formed a SelectionCommittee, comprising of five members including an external Member, foreventually deciding on a suitable successor to Mr. Ratan N. Tata. Mr.Tata is due to retire only at the end of December 2012.
The Committee is in the process of formulatingcriteria for identifying the most suitable candidate taking into account theglobal nature and complexity of the Group's business at the present time. The Group would require someone with experience and exposure to direct itsgrowth amidst the challenges of the global economy.
The selection processfor a prospective candidate would consider suitable persons from within theTata Companies, other professionals in India as well as persons overseas withglobal experience.
It is expected that the final selection would be madein adequate time to effect a smooth transition and change of leadership beforeMr. Ratan N. Tata's retirement at the end of December 2012.