Reuters reported that the next chairman of India's venerable salt-to-software conglomerate TATA Group will be an insider and a family member by marriage.
India's biggest corporate house on Wednesday ended a search that lasted more than a year for a successor to chairman Mr Ratan Tata, tapping Mr Cyrus Mistry as deputy chairman of TATA Sons, the group's holding company.
He will succeed Mr Ratan Tata when he retires in December 2012.
Mr Mistry is the son of Pallonji Mistry, the single largest shareholder of TATA Sons, with a stake of 18% and has been a director of TATA Sons since 2006.
The future chairman's sister is married to Ratan Tata's half brother Mr Noel Tata, who was also believed to be a candidate to be the next chairman of TATA.
Sourced from Thomson Reuters
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