Photographs: Reuters
"I hope that by the first half of this year, we'll be able to define a suitable candidate with whom one can overlap for a short period of time before I move on," Ratan Tata said in an interview to CNN International's Talk Asia programme.
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Noel in contention for top job: Ratan Tata
Image: Noel Tata heads Trent.Photographs: Reuters
Asked what were the chances of his successor not having Tata as the last name, the industrialist said that he would not like to comment on that.
"My step-brother is one of the candidates that is being considered and I don't think it's my lot to, to say whether it's fifty per cent, or ninety per cent or ten percent so...," he added.
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Noel in contention for top job: Ratan Tata
Image: J R D Tata, the longest serving chairman of the Tata Group.Photographs: Courtesy, The Tata Group
Tata, who has been heading the group as Chairman of its parent company Tata Sons since 1991 and had joined the group in 1962, said that it had been an exciting time for him.
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Noel in contention for top job: Ratan Tata
Image: J N Tata (sitting right to left), the founder of the Tata Group; Sir Dorabji Tata, (standing right to left); the elder son of J N Tata, Sir Ratan Tata, his younger brother and R D Tata, father of JRD Tata.Photographs: Courtesy, The Tata Group
"I've stayed away from that committee because I think that committee should operate independently without the force of someone who is looking over their shoulder and I hope that by first half of this year, we'll be able to define a suitable candidate with who one can overlap for a short period of time before I move away," he added.
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Noel in contention for top job: Ratan Tata
Image: Ratan Tata speaks in front of a portrait of Tata Group founder Jamsetji Nusserwanji Tata.Photographs: Reuters
Talking about the legacy he wanted to leave behind, Tata said: "I think what I would like to do is to leave behind a sustainable entity of a set of companies that operate in an exemplary manner in terms of ethics, values and continue what our ancestors left behind.
"Not my legacy alone but a continuation of the legacy that extends over the last over a hundred years.
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Noel in contention for top job: Ratan Tata
Image: Bombay House, the headquarters of the Tata Group (1926).Photographs: Courtesy, The Tata Group
He went on to say that his only regret was not being 20 years younger in age, but maintained that he did not crave to stay on at the top of the country's biggest corporate empire.
Speaking about the business environment in India, Tata said his group has succeeded in growing without indulging in things like kockbacks and bribes.
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Noel in contention for top job: Ratan Tata
Image: US Secretary of State Hillary Clinton and Ratan Tata at a meeting.Photographs: Reuters
"I would say that we could have grown faster and could have prospered more as a group but we have never, we have never in fact partaken in this kind of activity," he added.
Asked whether anyone in his company or any lobbyist did anything inappropriate or illegal, he added: "I can say with my hand to my heart we have not in fact partaken in any clandestine activity.
"I am hopeful that the investigations that are underway will truthfully bring out the position and that the truth will be on the table before too long."
Noel in contention for top job: Ratan Tata
Image: Tata Motors is just one of Tata's companies.Photographs: Reuters
"I think more importantly the media has to be more circumspect and be careful they don't malign or allege or convict people before they've had a fair trial," he added.
Asked whether it was hard to be an honest businessman in India, Tata said: "I think there are many honest businessmen, I think there are many that bend. I'm happy that I have not bent, not that I am dishonest, that I have not bent."
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Noel in contention for top job: Ratan Tata
Image: Tatas also own The Indian Hotels Company.Photographs: Reuters
Besides the group's promoter company Tata Sons, Ratan Tata is Chairman of major group companies like Tata Motors, Tata Steel, Tata Consultancy Services, Tata Power, Tata Global Beverages, Tata Chemicals, Indian Hotels and Tata Teleservices. During his tenure, the group's revenues have grown nearly 12-fold, totalling $67.4 billion in 2009-10.
He also serves on the boards of Fiat SpA and Alcoa and is also on the international advisory boards of Mitsubishi Corporation, the American International Group, JP Morgan Chase, Rolls Royce, Temasek Holdings and the Monetary Authority of Singapore.
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