Noel Tata Appointed Chairman of Tata Trusts

By siliconindia  |  Friday, 11 October 2024, 03:01:37 PM IST

Noel Tata Appointed Chairman of Tata Trusts
Noel Tata was appointed as the Chairman of Tata Trusts, the philanthropic arm of the Tata Group, over the weekend. The board meeting on Friday saw a unanimous acceptance of the appointment. The group made the announcement following the death of former Chairman Ratan Naval Tata, who died at age 86. The board was convened to deliberate on succession and decided to go ahead and recommend Noel Tata, Ratan Tata's half-brother, to manage the Trusts.
Noel Tata, who sits on a number of boards including Tata Steel and Voltas, under Noel Tata's garb is modest and low-key, more glaringly contrasting to Ratan Tata's open. Nevertheless, this silent Nelson has been playing a very crucial role for the rise of the conglomerate since he joined the Group in the early 2000s. His appointment is seen as a continuation of the philosophy of moving forward and a valid way to preserve the legacy of the Group by Ratan Tata.
In addition, news agencies quote that Noel Tata being appointed as a trustee, Mehli Mistry one of Cyrus Mistry's first cousins would be a permanent trustee of the Tata Trusts. Mistry, who has been at loggerheads with the Tata family for some time now, will be an important member of the Leadership Team of the Trust.
Earlier this year, three children of Noel Tata, Leah, Maya, and Neville were also appointed as trustees in several entities constituted under the banner of the Sir Ratan Tata Trust and Sir Dorabji Tata Trust. Leah serves as Vice President at The Indian Hotels, Maya is working with Tata Capital, and Neville serves on the leadership teams of Trent and Star Bazaar.
Its ultimate ownership for Tata Sons is at 65.3% through Tata Trusts, operating 14 trusts, both Sir Ratan Tata Trust and Sir Dorabji Tata Trust, and owning over 50% of Tata Sons.

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