Ratan Tata is not stepping down as chairman: Tata Sons

New Delhi: Tata Sons on Friday rubbished the rumours of Ratan Tata's plans of stepping down as the chairman of the Tata Trusts in near future.

Tata Sons clarified that the meetings with the Trustees are being held to make a decision on the leadership succession in the Trusts in future. It claimed that the process was being followed to ensure an ordered and smooth transition of leadership.

Tata will be closely associated with all the steps that will be undertaken by Tata Trusts, said Tata Sons in a press release.

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"Ratan Tata also stressed that the Trusts were undertaking many initiatives that had national impact and he is looking forward to continuing his involvement with these initiatives in the Trusts. He was, however, keen that a process should be followed for a smooth transition of leadership at a suitable time," it added.

Earlier, a media reports, citing Tata's long-time confidant RK Krishna Kumar, suggested that Ratan Tata could soon step down as chairman of Tata Trusts.

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