Commentary: India: Paying Lip Service To Corporate Disclosure

In late June, Ratan Tata, chairman of India's $8 billion Tata Group, did something virtually unprecedented for a top Indian executive: He gave notice. Two years hence, said Tata, he would step aside. And that's not all. Rather than name a successor himself, he vowed to leave the decision to the board. Indian corporate chiefs rarely retire--and never stop meddling with their boards--so this was exemplary.

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