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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World Key promotion fuels Tata succession speculation AFP - Wednesday, August 4 Send IM Story Print Key promotion fuels Tata succession speculation Slideshow: Full Photo Coverage: Business & Economy NEW DELHI (AFP) - – For years, one of the biggest guessing games in Indian corporate circles has been who will take over the venerable Tata Group, the nation's oldest business house, when tycoon Ratan Tata retires. Now, the ascent of his half-brother Noel Tata to a top post in the globe-straddling group has fuelled speculation about whether he could be "the chosen one" when Ratan Tata steps down as chairman in 2012 at age 75. For years, Noel Tata toiled in relative obscurity, heading the group's retail unit, Trent, which contributes a small percentage of the software-to-steel multinational's annual revenues of 71 billion dollars. But in June, the 53-year-old was named head of Tata Investment, a finance company with substantial stakes in group firms, replacing a trusted lieutenant of Ratan Tata. Then last week, Noel Tata was appointed to take charge of Tata International, the group's global trading arm, which deals in a raft of products from minerals, steel to engineering. Indian newspapers suggested the promotion put Noel Tata, who holds an MBA from top-tier French business school Insead, firmly in the running for the top job as chairman of the conglomerate. Leading Mumbai daily DNA commented the appointment looked like "The Move" that could pave the way for him to take over the group. As well as being Ratan's half-brother, Noel Tata has the right connections as son-in-law of construction magnate Pallonji Mistry -- the biggest single shareholder in the Tata Group's holding company, Tata Sons. "This appointment puts him much more in the frame for the succession, he also has the family pedigree -- it's a sign he's becoming more important," said the head of a corporate consultancy who did not wish to be identified. The Tata Group has been run by a family member since 1868. Under Noel Tata's captaincy, Tata International "is expected to take on an aggressive growth path," according to a company statement. "This is definitely giving him more experience -- the international side is very important to the group," said a Mumbai analyst who follows the company. Some 65 percent of Tata's revenues are earned abroad. The Tata Group has declined to comment on speculation on who will take over from Ratan Tata, who has propelled the conglomerate's global expansion that has included purchase of British luxury car marques Jaguar and Land Rover. Ratan Tata also has been tight-lipped, saying the candidate could come from inside or outside the group. But he has underlined his successor would have to uphold its strong tradition of corporate social responsibility. "The person must maintain our values, because they are, in a manner of speaking, the DNA of the group -- the crown jewel," the soft-spoken industrialist said recently. Since taking over as chairman in 1991, Ratan Tata has been credited with transforming the sprawling group that includes India's largest software house, biggest vehicle maker, a steel manufacturer and a ritzy hotel chain, into a streamlined, focused organisation. Tata, who trained as an architect, was also the driving force behind creation of the podlike Nano, billed as the world's cheapest "people's" car. Besides Noel Tata, other names bandied around as possible successors include Arun Sarin, former chairman of British mobile phone giant Vodafone, and Nuslia Wadia, chairman of textiles giant Bombay Dying. Noel Tata, who like his brother keeps a low profile, has refused to join in the speculation, saying the succession issue is "not for me to decide." But analysts have praised his stewardship of Trent, which he expanded from a single store to over 90 stores with a 10-fold increase in revenues. Last month, Ratan Tata reaffirmed to shareholders the 2012 deadline for his retirement still held. "We must move on and others should get a chance to take our place." 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