Ratan Tata to continue with Trust initiatives: Tata Sons

Moneycontrol BureauRatan Tata won't be stepping down as chairman of the Tata Trusts, is the word coming from Tata Sons. 
There are no plans for Ratan Tata stepping down as Tata Trust chairman currently, says Tata Sons.

Ratan Tata looking forward to continue involvement with Trust initiatives, it said.

The clarification comes in response to a media report that stated that Ratan Tata might stand down from Tata Trusts which controls 66 percent stake in the USD 100 billion Tata conglomerate's holding company Tata Sons. The report was citing Tata's long-time confidant RK Krishna Kumar. The report had also claimed the trusts have asked an external consultant to advise them on the selection process, which could be completed by the middle of next year, adding that the next chairman of the Trusts will be an Indian, but not necessarily a member of the Tata family.