Amid speculation over succession plans at the $71-billion conglomerate Tata Group, Chairman Ratan Tata today said he wants to move on and give others a chance to take his place.
"We are also human and we must move on and others should get a chance to take our place," Tata said in reply to a shareholder's query at group company Tata Consultancy Services' (TCS) annual general meeting on the company's retirement policy vis-a-vis his own retirement.
Earlier this week, the appointment of Noel Tata as chairman of Tata Investment Corporation triggered speculation that he will step into the shoes of his half-brother, Ratan Tata, as chairman of the conglomerate.
However, when contacted, a spokesperson had declined to comment on the speculation.
In the Tata Group, there is an age limit of 75 for serving as non-executive chairman and Ratan Tata's term is scheduled to end in December, 2012.
Earlier this year, Ratan Tata had told reporters: "I said that after (launching small-car) Nano, it will be a good time to step down... I still have a deadline for my retirement. I do have the responsibility to have a successor and both these things will take place."
