Tata’s new ratan

Larsen & Toubro chairman AM Naik had the best take on Ratan Tata’s successor. After talking of Tata chairman-designate Cyrus Mistry’s qualities as a manager (since L&T works closely with Mistry’s Shapoorji Pallonji), he said Mistry’s ownership stake would go a long way in ensuring acceptance by powerful board members as well as the chiefs of group firms. Look at the years Ratan Tata lost trying to recoup power from the Tata satraps and it’s obvious a smooth succession will be a major plus; or look at the huge mess Hewlett-Packard’s dysfunctional board has got it into.

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