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End of an era: RatanTata retires

Ratan Tata, an iconic corporate leader, retired as chairman of Tata Group after a 50-year run on Friday but kept away from office on his last day at the helm of one of country's oldest business empires.

Tata, who turned 75, is in Pune for his birthday, sources at Bombay House, headquarters of the salt-to-software conglomerate said, adding there was no clarity on whether he would visit his office later in the day.

Chairman-designate Cyrus Mistry, who made a visit to Bombay House today (on Friday), will on December 28 take charge of the new assignment, sources in Tata Sons said.

Mistry was groomed for the assignment by Tata for a year.