5- members panel to pick Tata's successor

Ratan Tata appears serious about keeping his date  with retirement. Tata sons, the promoter of the $71 billion tat Group, has finally set the ball rolling to find a successor to its present chairman, who will retire in December 2012, when he turna 75.

A Tata sons statement said its nine member board has formed a selection committee comprising five members, including an external member, "to decie on a suitable successor". the committee would look at cadidates both within the organisation and outside. it is expected that the final selection would be made in "adequate time to effect a smooth transition and change of leadership" before Tat hangs up his boots.