Noel Tata, the half-brother of the late Ratan Tata, has reportedly been appointed as the new Chairman of Tata Trusts. This decision was made during a board meeting held in Mumbai on October 11, where trustees unanimously supported the move, according to media reports.
At 67, Noel Tata is stepping into a prominent leadership role within Tata Trusts, which holds a majority stake in Tata Sons, the parent company of the Tata Group. Though he has often worked in the background during his half-brother's tenure, Noel is now responsible for overseeing the two key trusts—Sir Ratan Tata Trust & Allied Trusts and Sir Dorabji Tata Trust & Allied Trusts. Together, these entities control 66% of Tata Sons, the holding firm that drives the operations of the Tata Group.
"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 was quoted as saying by news agency IANS.
Noel has been serving as a trustee on both the Sir Ratan Tata Trust and Sir Dorabji Tata Trust. Despite maintaining a low profile, he has played an active role within the trusts, and he was also present at Ratan Tata's cremation on Thursday.
The recent board meeting was convened to select a successor following the passing of Ratan Tata on Wednesday. An official announcement is expected soon to confirm Noel's leadership position.
Involved with the Tata Group since 1999, Noel Tata heads Trent, the group’s retail arm that oversees popular brands like Westside and Zudio, with a market capitalization exceeding ₹2 lakh crore. He also chairs Voltas and Tata International.
Noel is married to Aloo Mistry, the sister of the late Cyrus Mistry and a member of the Shapoorji Pallonji family, which owns an 18.4% stake in Tata Sons, making it the largest private shareholder. The relationship between the Tatas and the Shapoorji Pallonji group has been strained since Cyrus Mistry was removed as Chairman of Tata Sons.
Tata Sons manages the commercial activities of the Tata Group, which collectively generated revenues of $165 billion last year.
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