Markets curious but cool to Tata heir hunt
Amidst all the curiosity about who will succeed Ratan Tata as chairman of the Tata Group, shareholders with significant investments in various group companies have mixed feelings on the search for a new chairman. Sandeep Singh reports.business Updated: Aug 05, 2010 21:50 IST
Amidst all the curiosity about who will succeed Ratan Tata as chairman of the Tata Group, shareholders with significant investments in various group companies have mixed feelings on the search for a new chairman.
"It is of significant importance to know who becomes the new chairman and what his vision is, because while there can be people to execute, the vision of the leader holds a lot of importance," said the head of a leading fund house on condition of anonymity.
Others said the search for a new chairman was not something to be worried about. "It is a well established group and each company has individual leaders, which gives us comfort," said the head of a large fund house.
Investors, however, are curious. "There is curiosity among the investors," said a senior official at a global financial services firm. "Investors will worry only if the style of work of the new chairman is very different from that of the existing one, in which case some leaders may step down."
A market participant who has tracked the group for a long time said the new chairman will have an easy start as compared to Ratan Tata. "There was a lot of politics within the group when Ratan Tata took over. Since no group head is in the race to take the top slot, the new chairman will not have to deal with disgruntled heads."