Noel Tata succeeds Ratan as chairman of Tata Trusts

Noel Tata, 66, is Ratan’s half brother and has been the trustee in four of the trusts that make Tata Trusts

Noel Naval Tata was appointed chairman of Tata Trusts on Friday (October 11, 2024). He succeeds Ratan Tata, who died on October 9, 2024.

The Trustees of various Trusts that comprise the Tata Trusts met at a joint meeting held in Mumbai.

They condoled the demise of Ratan N. Tata, Chairman, Tata Trusts, and recalled his yeoman services not only to the Tata Group but also to nation building, the Tata Trusts said in a statement.

In separate meetings held immediately, thereafter, it was unanimously decided to appoint Noel Naval Tata as the Chairman of the various Trusts that constitute the Tata Trusts and also designate him as Chairman, Tata Trusts.

His appointment comes into place effective immediately.

Mr. Noel Naval Tata, Chairman, Tata Trusts in a statement said, “I am deeply honoured and humbled by the responsibility that has been cast on me by my fellow Trustees. I look forward to carrying on the legacy of Mr. Ratan N. Tata and the Founders of the Tata Group. Founded more than a century ago, the Tata Trusts are a unique vehicle for undertaking social good. On this solemn occasion, we rededicate ourselves to carrying on our developmental and philanthropic initiatives and continuing to play our part in nation building.”

Noel Tata, 66, is Ratan’s half brother and has been the trustee in four of the trusts that make Tata Trusts, which is the conglomerate Tata group's philanthropic arm. He is leading several Tata group companies.

Noel's appointment is of significance as Tata Trusts owns 66% of Tata Sons, the holding company of various firms under the Tata brand which is more than 150 years old.

Ratan, one of India's most respected corporate leaders, built the Tata empire into a global conglomerate that spanned across industries.

A low profile Mr. Noel Tata is married to Aloo Tata who is the daughter of late Pallonji Mistry and sister of late Cyrus Mistry and Shapoorji Mistry who is the chairman of Shapoorji Pallonji Group. The Shapoorji Pallonji Group holds 18% stake in Tata Sons, the holding company of Tata Group.

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Tata Trusts have 66% stake in Tata Sons. So the person who controls Tata Trusts effectively have bigger role in the affairs of Tata Sons.

Mr. Noel Tata has three children all of whom are trustees in various trusts of Tata Trusts. His daughters Leah Tata and Maya Tata are trustees in 4 trusts each. His son Neville Tata is trustee in 3 trusts.

So far Vijay Singh and Venu Srinivasan are having a bigger role in Tata Trusts and they are vice chairman and trustees in 9 and 10 trusts respectively.

Mr. Noel Tata is the chairman of Tata International, Tata Investment Corporation Ltd. Noel N. Tata has been associated with the Tata group for 40 years and currently serves on the Board of various Tata Group Companies, including as the Chairman of Trent, Tata International Limited, Voltas & Tata Investment Corporation and as the Vice Chairman of Tata Steel and Titan Company Limited.

Mr. Tata graduated from Sussex University (UK) and has completed the International Executive Programme (IEP) from INSEAD.

He is the son of Naval H. Tata and Simone N. Tata.

Published - October 11, 2024 02:26 pm IST