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Ratan Tata, Visionary Business Leader, Dies at 86
Topics: Education-AlumniLife Experience-ObituaryNews-School NewsRatan Tata (AMP 71, 1975), who was one of India’s most admired leaders, died on October 9, in Mumbai. The Tata Group announced his death in a statement.
He served as chairman and chief executive of the Tata Group from 1991 to 2012, during which time profits multiplied 50 times. Tata was named one of the 30 most respected CEOs in the world by Barron’s magazine in 2007, the same year the Tata family was awarded the Carnegie Medal of Philanthropy. In 2008 he was among 100 individuals named by Time magazine as “the world’s most influential people.” Tata received HBS’s highest honor, the Alumni Achievement Award, in 1995.
India’s prime minister, Narendra Modi, remembered Tata as a “a visionary business leader, a compassionate soul and an extraordinary human being. He provided stable leadership to one of India’s oldest and most prestigious business houses. At the same time, his contribution went far beyond the boardroom. He endeared himself to several people thanks to his humility, kindness and an unwavering commitment to making our society better.”
The New York Times detailed Tata’s far-reaching philanthropies in India, where he “disbursed much of his personal fortune on education, health and agricultural projects for poorer Indians. In the United States, he and Tata Trusts contributed millions of dollars to several universities—including his alma maters Cornell and the Harvard Business School—for research facilities and scholarship programs that carry the Tata name.”
His 2010 gift to HBS was the largest from an international donor in the School’s 102-year history. Former Dean Jay Light worked closely with Tata in making the gift to the school, which funded an academic and residential building for participants of the Executive Education program. As someone who had an undergraduate degree in architecture, Tata was an enthusiastic reviewer of plans and schemes, and particularly enjoyed the building project.
Nitin Nohria, who was Dean at the time of the gift, said, “Ratan Tata was a truly remarkable leader: a man of deep integrity who strived, every day, to improve the lives of others—whether through his businesses or through his philanthropy. I loved and admired Mr. Tata and learned so much from him. He exemplified how business can be a tremendous force for good in society and how decency and humility amplify the respect a leader enjoys. It is wonderful, then, that Tata Hall bears his name and serves as an inspiration to students and participants from around the world.”
When the gift was announced in 2010, Tata said: “I owe a great deal to Harvard Business School, and it’s a pleasure and a privilege to be able to give back a little bit of what it gave to me. HBS is the preeminent place to learn about the world’s most innovative companies and to be exposed to the world’s best thinking on management and leadership. By supporting the Harvard Business School’s educational mission, this gift will help the next generation of global business leaders solve management challenges that affect the lives of billions of people.”
Dean Srikant Datar remembered him this way: “Ratan Tata’s impact will be felt for decades to come. There is no better example of business in service of society than the Tata Group, which invested in steel, electricity, cement, and trucks to help in India’s development. The company’s shares were held not by the family but by philanthropic trusts that supported hospitals, research institutes, and educational institutions. Tata Hall stands as a proud testament to his legacy, as will the memories of the countless individuals he so generously mentored. I was fortunate to count myself among that number, working directly with him early in my career. I reflect often on the advice and guidance he offered and its importance in my life. Despite his many accomplishments, he was unfailingly humble and gracious to everyone he met. He was a legend in his lifetime and a fantastic role model. His leadership will inspire us for many, many years.”
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