Ratan Tata, the former chairman of the Tata Group, has died at age 86, according to a statement from the company. This is a developing story and will be updated when more information becomes available.

Ratan Tata, the former Tata Group chairman, has died at the age of 86, according to a statement from the Indian conglomerate.

Ratan Tata, a former chairman of Indian conglomerate Tata Sons, died at a Mumbai hospital on Wednesday night. He was 86. Tata Sons chairman Natarajan Chandrasekaran confirmed Tata's death and described him in a statement as his "friend, mentor, and guide." He did not provide a cause of death.