Ratan Tata rubbishes reports of stepping down as chairman of Tata Trusts

Tata Sons interim chairman Ratan Tata on Friday denied reports of him stepping down from the chairmanship of the company.

"Further to news reports that have appeared in the media today, the interim chairman Ratan Tata clarified that there are no plans for his stepping down from the chairmanship of the Tata Trusts at this point in time," said the company press statement.

The reference to the media discussion with some Trustees relate to the process being put in place for the leadership succession in the Trusts in the future, to enable an ordered and smooth transition of leadership.

The interim chairman also said that a process should be in place for a smooth succession at an appropriate time, and if put in place for the leadership succession in the Trusts in the future, there will be an ordered and smooth transition of leadership.

He also emphasized 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.

However, there have been reports doing the round of his possible resignation to Tata's long-time confidant R K Krishna Kumar.