'Daewoo Commercial Vehicle Acquisition' Indian Tata Group Honorary Chairman Ratan Tata Passes Away

by Kim Jinyeong

Published 10 Oct.2024 06:50(KST)

Ratan Naval Tata, Honorary Chairman of India's business giant Tata Group, passed away on the 9th at the age of 86, according to major foreign media including The Guardian on the 10th. The cause of death has not been disclosed.

[Image source=Yonhap News]

Natarajan Chandrasekaran, Chairman of Tata Sons, the holding company of Tata Group, expressed, "On behalf of the entire Tata family, I extend my deepest condolences to his loved ones," adding, "His legacy will continue to inspire us as we strive to uphold the principles he passionately advocated."

Honorary Chairman Tata was born in 1937 in Mumbai, western India, as the great-grandson of the founder of Tata Group. After graduating from Cornell University in the United States, he returned to his homeland in the early 1960s and began his career in operations management at Tata Steel.

He later became Chairman of Tata Sons in 1991 and successfully led major acquisitions, including a European steel company in 2007 and the British luxury car brands Jaguar and Land Rover in 2008, transforming the company into a global enterprise. In 2004, he attracted attention by acquiring South Korea's Daewoo Commercial Vehicles and renaming it Tata Daewoo Commercial Vehicles.

Indian Prime Minister Narendra Modi posted on X (formerly Twitter), "A visionary business leader who led one of India's oldest and most prestigious companies," mourning the late leader.