
路透社和盖蒂图片社诺埃尔·塔塔(Noel Tata),多数股东塔塔信托(Tata Trusts)的主席,反对重新任命塔塔之子公司(Tata Sons)董事长N·钱德拉塞卡兰(N Chandrasekaran)。
Reuters and Getty Images Noel Tata, the chairman of majority shareholder Tata Trusts, has opposed the reappointment of N Chandrasekaran, the Tata Sons chairman Rachita Prasad BBC News, Mumbai 7 hours ago Before dawn breaks over Mumbai, Mansi Kadam begins preparing vada pav, a savoury snack synonymous with the western Indian city, for the day's customers.
拉奇塔·普拉萨德(Rachita Prasad)BBC新闻,孟买,7小时前在孟买黎明破晓之前,曼西·卡达姆(Mansi Kadam)开始为当天的顾客准备瓦达帕夫(vada pav),这是一种与西印度城市孟买同义的咸味小吃。唯一不可妥协的配料是塔塔盐(Tata salt)。
One ingredient is non-negotiable: Tata salt.
当被问及是否会考虑更换品牌时,她的回答让人想起一则老旧的印地语广告歌曲:“如果是盐,就必须是塔塔”。她对塔塔集团董事会正在展开的事态了解不多——该集团是印度最古老、最具影响力的商业帝国之一,业务涵盖从盐到软件的方方面面。
When asked whether she would ever consider switching brands, her reply is a reminder of an old Hindi ad jingle, "If it's salt, it has to be Tata." She knows little about the developments unfolding in the boardroom of the Tata group, one of India's oldest and most influential business empires that makes everything from salt to software.
但她本能的忠诚指向了一个困扰集团的问题:印度最受信赖的品牌之一,能否仍然免于围绕权力、治理和控制的公开争斗?
But her instinctive loyalty points to a question confronting the group: Can one of India's most trusted brands remain insulated from a public battle over power, governance and control?
塔塔集团的控股公司塔塔之子公司(Tata Sons)董事会与其主要股东塔塔信托(Tata Trusts)之间最近的公开分歧,使这家企业集团成为焦点。
A recent public disagreement between the board of Tata Sons, the holding company of the Tata group and Tata Trusts, its principal shareholder, has put a spotlight on the conglomerate.
争议的核心有两个问题——塔塔之子公司的拟上市计划以及董事长N·钱德拉塞卡兰的重新任命。包括最大少数股东SP集团在内的大多数塔塔之子公司董事会成员都支持这些决定。
At the centre of the dispute are two issues - the proposed public listing of Tata Sons and the reappointment of chairman N Chandrasekaran Most of the Tata Sons board, including its biggest minority shareholder SP Group, supported the decisions.
但多数股东塔塔信托的主席诺埃尔·塔塔反对这两项决议。他坚持认为,公开上市会削弱集团的慈善精神,并可能在年度股东大会上导致两项决定被推翻。
But Noel Tata, chairman of majority shareholder Tata Trusts, has opposed both resolutions. He maintains that a public listing would dilute the group's philanthropic ethos and is likely to get both decisions overturned at its annual general meeting.
“当我们说这是治理危机时,实际上是塔塔之子公司董事会与股东(塔塔信托)之间的利益不一致,”独立公司治理公司InGovern Research负责人施里兰·苏布拉马尼安(Shriram Subramanian)对BBC表示。
"When we say this is a governance crisis, it's a misalignment of interests between the board [of Tata Sons] and the shareholders [Tata Trusts]," Shriram Subramanian, head of independent corporate governance firm InGovern Research, told the BBC.
虽然他不认为品牌形象会立即受到影响,但他对领导层应对挑战的能力表示担忧。
While he does not expect the brand's image to be affected immediately, he flags concerns over the leadership's ability to navigate the challenges.
自2024年前董事长拉坦·塔塔去世以来,塔塔集团内部的分歧一直在酝酿——拉坦·塔塔是诺埃尔·塔塔的同父异母兄弟,在他去世前指定他为继任者。对许多印度人而言,拉坦·塔塔的慈善事业和领导力已经与品牌形象融为一体。他的去世引发了全国范围的哀悼,专家表示,这在公众眼中给塔塔集团的形象留下了一个领导真空。
Disagreements within the Tata Group have been simmering since the death of former chairman Ratan Tata - Noel Tata's half-brother who designated him successor after his death - in 2024. For many Indians, Ratan Tata's philanthropy and leadership had become inseparable from the brand. His death triggered widespread mourning and experts say it left a leadership void in the group's image with the public.
根据该集团网站的信息,塔塔集团自2018年以来一直位列品牌金融咨询公司Brand Finance评选的印度最有价值品牌榜首。
The Tata group has topped India's most valuable brand list by valuation consultancy Brand Finance since 2018, according to the group's website.
该集团将塔塔 Sons 描述为“将整体中众多分散元素紧密联系在一起的紧固件”。
Tata Sons, the business entity, is described by the group as the "fastener keeping the many disparate elements of the whole together".
塔塔信托基金代表七个慈善信托,这些信托持有该集团多数股权,被广泛视为其道德指南针,引导企业在社会影响和慈善方面的方向。
Tata Trusts, which represents seven philanthropic trusts that own the majority stake in the group, is widely regarded as its moral compass, guiding the businesses on social impact and philanthropy.
对许多印度人而言,这两个实体共同构成了大多数公司无法购买的东西——信任。如今,随着这些实体站在对立的一方,这种信任正面临考验。
For many Indians, both the entities together make up what most companies cannot buy - trust. Now with these entities in rival corners, that is coming under strain.
“曾经有一段时间,有一个统一的受众群体认为塔塔家族是善良的人,治理良好。如今,舆论出现了分歧,”商业和品牌战略顾问哈里什·比朱尔说道。
"Once upon a time, there was a unified audience which said the Tatas are good people with good governance. Today, the opinion is divided," said Harish Bijoor, business and brand strategy consultant.
Ashish Vaishnav/SOPA Images/LightRocket 通过盖蒂图片社提供 拉坦·塔塔于2024年去世引发全国哀悼。虽然大多数消费者似乎未受影响,但这场争议已经使其他利益相关方——包括商业伙伴、投资者和员工——产生了两极分化。一些人将其视为公司权力斗争,另一些人则认为这是真正的治理争论,但很少有人同意哪一方是正确的,比朱尔说道。
Ashish Vaishnav/SOPA Images/LightRocket via Getty Images Ratan Tata's death in 2024 drew tributes from across the country While most consumers appear unfazed, the dispute has polarised other stakeholders including business partners, investors and employees. Some view it as corporate power politics, others as a genuine governance debate, but few agree on which side is right, Bijoor said.

“这场冲突让塔塔家族成为各处讨论的话题,而这并不好,因为他们一向喜欢置身事外,”他说。该集团历来倾向于低调处理慈善和冲突解决事务。塔塔集团未回复BBC发送的包含详细问题的电子邮件。
"This conflict has brought the Tatas into conversations everywhere, which is not good as they have always liked to be out of it," he says. The group has been traditionally preferred being low profile about philanthropy and conflict resolution. The Tata group did not respond to BBC's email with detailed questions.
塔塔集团由贾姆塞吉·塔塔于1868年创立,在JR·塔塔的领导下得以扩张,他将其转变为专业化管理的 conglomerate。拉坦·塔塔通过收购推动了其全球野心。
Founded by Jamsetji Tata in 1868, the Tata group expanded under JRD Tata who transformed it into a professionally managed conglomerate. Ratan Tata drove its global ambitions through acquisitions.
塔塔集团拥有超过2600亿美元(1956亿英镑)的合并市值,并在100多个国家雇佣了数十万人,它并不陌生于争议。
Tata group, which has a combined market value of more than $260bn (£195.6bn) and employs hundreds of thousands of people in more than 100 countries, is not new to controversies.
该 conglomerate 曾因工业项目面临抗议,在频谱分配争议期间其印度电信业务受到审查,与日本Docomo发生高调争议,最近则因印度航空的表现受到质疑。其部分商业决策也引起关注,特别是塔塔钢铁收购科勒斯的困难经历,尽管其他海外投资如泰特利和捷豹路虎取得成功,并帮助扩大了该集团的全球版图。
The conglomerate has faced protests over industrial projects, scrutiny of its Indian telecom business during a spectrum allocation controversy, a high-profile dispute with Japan's Docomo and, more recently, questions over Air India's performance Some of its business decisions have also drawn attention, particularly Tata Steel's troubled Corus acquisition, though other overseas bets such as Tetley and Jaguar Land Rover were successful and helped expand the group's global footprint.
其最大争议发生在2016年,当时塔塔 Sons 董事会突然罢免赛勒斯·米斯特里的董事长职务,并请回拉坦·塔塔担任临时负责人。米斯特里是SP集团的继承人,曾被拉坦·塔塔亲自领导的团队选中。此事引发了一场持久的斗争,直至2021年最高法院裁定塔塔集团胜诉为止。
Its biggest controversy was in 2016 when the Tata Sons board abruptly removed Cyrus Mistry as chairman and brought back Ratan Tata as interim head. Mistry, heir to the SP Group, was chosen by a team led by Ratan Tata himself. It led to a long battle which ended in 2021 with the Supreme Court ruling in the Tatas' favour.
上个月,记者苏凯塔·达拉尔在其为《Moneylife》杂志撰写的专栏中写道,塔塔集团“经受住了严峻的治理风暴”,并享有“其他商业集团无法获得的特殊待遇[指的是塔塔信托因持有塔塔 Sons 股份而获得的税收豁免]”,这是因为其数十年积累的声誉。大多数关注塔塔的人士都持此观点。
Last month, journalist Sucheta Dalal wrote in her column for Moneylife magazine that the Tata group has "weathered serious governance storms" and enjoys "special privileges available to no other business group [referring to a tax exemption granted to Tata Trusts for holding shares in Tata Sons]" because of a reputation built over decades. Most Tata watchers agree.
在一次电子邮件采访中,埃克塞特领导力中心的研究员、2010年撰写过该品牌著作的莫根·维策尔引用了该集团与人民联系的几个例子。
In an email interview, Morgen Witzel, a fellow at Exeter Centre of Leadership who wrote a book on the brand in 2010, cited several examples on the group's connection with people.
在贾姆谢德布尔,该集团在贾坎德邦建立了印度首家综合钢铁厂和一座工业城,为数百个村庄的居民提供医疗和教育服务。手表制造商泰坦支持希望离职并创办自己企业的员工。塔塔汽车在浦那已支持数千名女性企业家,他指出。
At Jamshedpur in Jharkhand state, where the group set up India's first integrated steel plant and an industrial city, it provides healthcare and education to people in hundreds of villages. Watchmaker Titan supports employees who want to leave and start their own businesses. Tata Motors at Pune has supported thousands of female entrepreneurs, he points out.
“正是这些因素的综合作用建立了信任,因为人们看到,总体而言,塔塔集团是来满足他们的需求,而不仅仅是为了赚取他们的钱,”维策尔说。
"It is the concatenation of all of these things that builds trust because people see that, by and large, Tata is there to serve their needs rather than just take their money," Witzel said.

迪诺迪亚照片/盖蒂图片社 塔塔钢铁在贾姆谢德布尔建立了钢铁厂和印度首座规划工业城。但尽管该集团此前曾度过其他风暴,这一次,分歧出现在内部。
Dinodia Photos/Getty Images Tata Steel set up a steel factory and India's first planned industrial city at Jamshedpur But while the group has weathered other storms, this time, the divide is within.
董事会内部的争斗日益公开化,塔塔儿子公司和信托基金通过法律通知和相互矛盾的声明展开冲突。
The boardroom tussle has increasingly spilled into the public domain, with Tata Sons and Trusts clashing through legal notices and conflicting statements.
塔塔信托基金副主席、塔塔儿子公司董事会提名董事斯里尼瓦桑要求对某些信托基金涉嫌的治理失职行为展开调查。信托基金方面否认存在失职。诺埃尔·塔塔提出了两项避免公司上市的方案。
Venu Srinivasan, vice-chairman of Tata Trusts and a nominee director on Tata Sons' board, has sought a probe into alleged governance lapses at some trusts. The trusts deny the lapses. Noel Tata has made two proposals to avoid listing the company.
首先,塔塔儿子公司董事会回购SP集团所持少数股权的一部分,作为对后者要求变现其股权的“公平合理的解决方案”。其次,通过将塔塔儿子公司与自身的两项业务合并来重组塔塔儿子公司,改变其在印度央行的分类方式,从而可能帮助集团避免上市。
First, that the Tata Sons board buy back a portion of SP Group's minority stake as a "fair and equitable solution" to the latter's demand to monetise their stake. Secondly, restructure Tata Sons by merging with itself two businesses which would change the way it is classified by India's central bank, helping the group potentially avoid a listing.
鉴于他尚未像拉塔·塔塔那样巩固权力,目前尚不清楚他是否能够实现这一目标。
It is not clear whether he can pull this off, given that unlike Rata Tata, he had not consolidated power yet.
“拉塔·塔塔超凡脱俗的形象在某种程度上是当前冲突的根源。大家都对他十分尊敬,而他的继任者只有在他去世后,通过他的遗嘱才被人们所知,”斯布拉马尼亚姆说。如果拉塔·塔塔亲自监督继承过程,过渡将会更加顺畅,他说。
"Ratan Tata's larger-than-life image is, to some extent, the reason behind the current conflict. Everyone was deferential towards him and his successor was known only after his death through his will," says Subramanian. Had Ratan Tata overseen the succession himself, the transition would have been smoother, he says.
品牌专家比朱尔呼吁塔塔集团编制一份“白皮书”,记录这场冲突最终如何收场。“他们代表透明度,绝不能放弃这一点。”这家极具影响力的集团如何化解这些张力,或将展现其未来走向。结果将受到印度企业界的密切关注,塔塔的治理与商业实践长期以来一直被视为标杆。
Brand expert Bijoor calls for the Tata group to put together a "white paper" on how the conflict plays out in the end. "They stood for transparency, and they must never shed that." How the influential group manages these tensions may offer a glimpse into its future. The outcome will be watched closely across corporate India, where Tata's governance and business practices have long been regarded as a benchmark. India Asia Mumbai Tata Group