Back in 2006, Fiat SpA and Tata went into a Joint Venture (JV) to manufacture and sell Fiat cars in India. Fiat appointed Ratan N. Tata, Chairman of the Tata Sons, by invitation to be a member of the Board of Fiat SpA as an independent director. Recently, Mr. Ratan N. Tata has stepped down the board.
An email from a Tata Sons spokesperson stated: “Ratan N Tata was on the Board of Fiat SpA, at their invitation, in his personal capacity. He stepped down from their Board in April this year to reduce his engagements”.
At the eve of the 11th Auto Expo at New Delhi, Mr. Ratan N. had revealed interest in continuing on the boards of non-Tata companies that includes Fiat SpA and Alcoa, a US-based company. Currently, the 15-member Fiat SpA board is left with eight independent directors.
News Source: BS Motoring