The Hindu : Ratan Tata offers to quit

Online edition of India's National Newspaper
Wednesday, August 15, 2001

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Front Page \| Previous Ratan Tata offers to quit MUMBAI, AUG. 14. The Tata Group Chairman, Mr. Ratan Tata, today offered ``to step down'' as chairman of Tata Engineering (Telco) owing responsibility for the Rs. 500-crore loss incurred for the first time in the company's history. ``I am quite disappointed by Telco's results and there are times when one has to take a view whether you are the cause of the problem or stand by the company's management...If the shareholders and the board want me to step down I will do so,'' a distressed Tata told agitated shareholders at the company's stormy annual general meeting here. The shareholders took Tata to task at the AGM, which went on for more than five hours. Some demanded his resgination while others expressed their faith and confidence in his leadership. - PTI Send this article to Friends by E-Mail
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Copyrights © 2001 The Hindu Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu

Front Page \| National \| Southern States \| Other States \| International \| Opinion \| Business \| Sport \| Entertainment \| Miscellaneous \| Features \| Classifieds \| Employment \| Index \| Home

Front Page \| Previous Ratan Tata offers to quit MUMBAI, AUG. 14. The Tata Group Chairman, Mr. Ratan Tata, today offered ``to step down'' as chairman of Tata Engineering (Telco) owing responsibility for the Rs. 500-crore loss incurred for the first time in the company's history. ``I am quite disappointed by Telco's results and there are times when one has to take a view whether you are the cause of the problem or stand by the company's management...If the shareholders and the board want me to step down I will do so,'' a distressed Tata told agitated shareholders at the company's stormy annual general meeting here. The shareholders took Tata to task at the AGM, which went on for more than five hours. Some demanded his resgination while others expressed their faith and confidence in his leadership. - PTI Send this article to Friends by E-Mail
Section : Front Page Previous : Gallantry awards for 165
Front Page \| National \| Southern States \| Other States \| International \| Opinion \| Business \| Sport \| Entertainment \| Miscellaneous \| Features \| Classifieds \| Employment \| Index \| Home
Copyrights © 2001 The Hindu Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu