Ratan Tata steps down from Italian auto maker Fiat's board

Posted in : News

(added few years ago!)

Tata Sons Chairman Ratan Tata has reportedly stepped down from the board of Italian car maker Fiat SpA after serving the company for six years as an independent director, according to a report in Business Standard.

Tata joined the Fiat board in 2006, a few months before the two companies announced an industrial joint venture in India for joint manufacturing and marketing of cars. Tata Sons spokesperson said “Ratan N Tata was on the Board of Fiat SpA, at their invitation, in his personal capacity. He stepped down from their Board in April this year to reduce his engagements.”

At the time of appointment Tata’s name was proposed by the Agnelli family, which then controlled IFIL, a company that held 30 per cent stake in Fiat Spa. He was one of the three independent directors appointed then and remains the only Indian to serve on the board of the Italian auto giant.

Tags : Tata Sons, Ratan Tata, Italian, Fiat SpA, 2006, Agnelli, IFIL

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(added few years ago!) / 1146 views
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