In an unexpected development, Niira Radia, owner and promoter of Vaishnavi Group, which has been handling Tata Group and Mukesh Ambani-led Reliance Industries Ltd, has announced her decision to exit from the communication consultancy business.
Radia, who had been in the news related to the 2G controversy and the leaked tapes of her conversations, said that her decision to quit was “to give precedence to my personal priorities of family and health”.
Reacting to Radia’s decision, Ratan Tata, Chairman, Tata Group, in a prepared statement said, “The Tata Group respects the personal wishes of Niira Radia in not renewing any client mandates. She has built Vaishnavi from scratch into the company it is today, often subordinating her personal and family interests in favour of her clients’ priorities.”
Meanwhile, the Tata Group has appointed Rediffusion, led by Arun Nanda, to manage its PR and public affairs from November 1, 2011. It may be noted that Vaishnavi Group had been handling the PR mandate for Tata Group since 2001. Vaishnavi’s contract with the Tata Group expires on October 31, 2011.
A Reliance Industries spokesman in a statement issued said, “We have enjoyed a professional and fulfilling relationship with Radia and her team over the last three years.”