Shareholders of Tata Steel today appealed to Ratan Tata to be Chairman Emeritus of the group after his retirement in December, 2012.
"Please don't retire in the interest of the Tata Group. You may retire practically, but continue to be Chairman Emeritus and oversee the operations of the group," a shareholder pleaded with Tata at the Annual General Meeting of Tata Steel here.
Several shareholders also praised Tata's contribution over the past two decades and congratulated him for successfully turning around loss-making British steel major Corus and making Tata Steel the world's 10th largest steel company.
On the successful turnaround of Corus, which helped Tata Steel return to profits in Q1, FY11, with a PAT of Rs 1,825 crore after suffering a loss of Rs 2,209 crore in the same period last year, Tata said, "I am happy that Corus did not turn out to be a millstone, but has helped us (Tata Steel) become the world's 10th largest steel-maker."
Amid suggestions aplenty, including one from a former Tata Group veteran to choose someone from within the Tata family to head the $71 billion salt-to-software conglomerate, incumbent Chairman Ratan Tata today said only the best would succeed him.
