Tata Group Chairman Ratan Tata in a lighter vein today saidshareholders would probably remember him, after he stands down in December end,for his stinginess when it comes to dolling out bonuses.
To a shareholder's query at the 73rd AGM of Tata Chemicals about low bonusesbeing doled out by the company, though the parent company being a USD 100billion entity, Tata in a jocular vein said: "You can remember me for mystinginess and praise (Cyrus) Mistry for his magnanimity."
Tata will step down as Chairman of Tata Sons and other group companies inDecember-end after a stint of over 21 years, which saw the group becoming atrue multinational with more than 65 per cent of revenue coming from overseasoperations. Cyrus Mistry will succeed him as Chairman of the salt-to-softwareconglomerate.
"I have enjoyed the moments when I faced you all these years. I thinkeverybody who comes to the end of their careers should be able to cherishit," Tata told shareholders.
"Be it good or bad, pleasant or unpleasant, I cherish all of it. Whateverit may be, I wish Tata Group continues to stick to their traditions andspearhead with what is right as it has always done."
Commenting on his successor Mistry, Tata said the new Chairman has all thevalues and ethics which are required for leading the over 100-year-olddiversified corporate Group.