Ratan Tata to Retire on Dec. 28

Ratan Tata—who led the transformation of the Tata group from a conventional corporate house into a $100 billion global conglomerate with high-profile acquisitions abroad—will retire on Dec. 28, 2012 ending a 50-year run in one of India's oldest business empires.

Tata, who turns 75 on Dec. 28, will hand over the reins of the group to 44-year-old Cyrus Mistry, who was chosen his successor last year and formally appointed Chairman earlier this month.