Ratan Tata may step down as chairman of Tata Trusts: Reports

Mumbai: Ratan Tata may step down as chairman of Tata Trust, as per a repot published in Times of India.

Tata Trusts control a 66 percent stake in the $100 billion Tata conglomerate`s holding company Tata Sons.

Tata Trusts controls 66 percent of the shares of Tata Sons, the holding Tata company. The wealth that accrues from this asset supports an assortment of causes, institutions and individuals in a wide variety of areas

Times of India report claims that the new selection process which includes advise from an external agent and it will be concluded by mid-next year.

The report further says that the next chairman will be an India and it's not necessary if he will belong to the Tata family.

A feud is going on between Tata and Tata Sons`ousted Chairman Cyrus Mistry for the last many weeks.