Tata Trusts Appoints Noel Tata As The New Chairman

Tata Trusts are the philanthropic organisations that own Tata Sons, the parent company of the Tata group of companies

Noel Tata Will Replace Ratan Naval Tata

Source : PTI,X

Tata Trust has appointed Noel Tata as the new Chairman of Tata Trusts, taking over from Ratan Naval Tata. Tata Trusts are the philanthropic organisations that own Tata Sons, the parent company of the Tata Group of companies. On Friday morning, the board of Tata Trusts convened and approved the appointment of Noel Tata, Ratan Tata's half-brother, as the new chair of the Tata Trusts.

Ratan Tata, who played a pivotal role in transforming the Tata Group into a globally acclaimed conglomerate, passed away on Wednesday at the age of 86 in Mumbai's Breach Candy Hospital.

Tata Sons is predominantly owned by the Tata Trusts, which hold a significant 65.9 per cent stake in the company. Additionally, several Tata Group companies own 12.87 per cent of Tata Sons, while the Mistry family holds an 18.4 per cent share. Leading up to the meeting of the Tata Trusts, Noel Tata emerged as the frontrunner for the successor position.

Speaking on this occasion, Noel Naval Tata, Chairman of Tata Trusts, 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."

Who Is Noel Tata?

Noel N. Tata, the Chairman and Non-Executive Director of Tata International Limited, has been an integral part of the Tata Group for nearly four decades. He is the son of Naval H. Tata and Simone N. Tata. In addition to his role at Tata International, he serves as a Trustee on the Sir Ratan Tata Trust boards and the Sir Dorabji Tata Trust.

Noel holds several prominent positions within the Tata Group, including Chairman of Trent, Voltas, and Tata Investment Corporation. He is also the Vice Chairman of Tata Steel and Titan Company Limited. His most recent executive role was as the Managing Director of Tata International Limited.

Before his tenure at Tata International, Noel was the Managing Director of Trent Limited. Under his leadership, Trent grew from a single store in 1998 to a robust network of over 700 stores today.

Noel Tata earned his degree from Sussex University in the UK and completed the International Executive Programme (IEP) at INSEAD. The Tata Trusts, which play a vital role in the group’s philanthropic efforts, were established in 1892 by Jamsetji Tata, Noel's great-grandfather, shortly after he laid the foundation for the Tata Group.