Ratan Tata is most likely to step down as chairman of the Tata Trusts which control 66% in Tata Sons, the holding company of the $108-billion Tata Group. The Trusts have asked an external consultant to advise them on the selection process. The next chairman of the Trusts will be an Indian, but not necessarily a Parsi or a member of the Tata family, Tata's long-time confidant R K Krishna Kumar told TOI on Thursday. The Trusts' investments in the listed Tata companies alone are worth $41 billion.
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