The board of Tata Trusts on Friday unanimously decided to appoint Noel Tata as its chairman, succeeding Ratan Tata who passed away on late October 9 with immediate effect. The 67-year-old Noel Tata is the half-brother of Ratan Tata and has been involved with the Tata group, including Tata Trusts, for many years.
Neol is the son of Naval Tata from his second marriage. He is already a trustee on the board of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust. Tata Trusts comprises Sir Ratan Tata Trust and Allied Trusts, and the Sir Dorabji Tata Trust and Allied Trusts. These Trusts, with their focus on poverty alleviation, healthcare, and education, are integral to Ratan Tata’s legacy of impactful philanthropy.
Also Read: Who is Noel Tata, the New Chairman of Tata Trusts & Successor of Ratan Tata?
Tata Trusts in a statement said, “The Trustees of various Trusts that comprise the Tata Trusts met at a joint meeting held in Mumbai today. 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. 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.”
On his appointment as the Tata Trusts chairman, Noel Tata 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 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.”
The decision to appoint the chairman has been made keeping in mind Ratan Tata’s approach of “moving on”. His approach was to look ahead and look forward, CNBC-TV18 has reported.
“His appointment will ensure continuity and total harmony in the working of the Tata group,” said H P Ranina, senior advocate of the Supreme Court of India.
R Gopalakrishnan, a former board member of Tata Sons, said, “Noel is very sensible man. He’s got his heart at the right place and he will do wonderfully well for Tatas.”
Currently, Noel is vice-chairman of watchmaker Titan and Tata Steel. He is also the chairman of Tata group’s retail company Trent (the owner of Zudio and Westside) and its NBFC firm Tata Investment Corp. Noel also serves on the board of Voltas.
He is also the managing director of Tata International, where he began his career. It is after this appointment in 2010-11 when the speculation started that Noel was being groomed to succeed Ratan Tata as the head of the Tata group.
Tata International is the Tata Group’s arm for the products and services offered abroad.
Noel Tata graduated from the Sussex University (UK) and has completed the International Executive Programme (IEP) from INSEAD in France.
Noel had earlier worked with Nestle, UK.
Noel, who is an Irish citizen, is married to Aloo Mistry, the daughter of Pallonji Mistry, who was the single largest shareholder in Tata Sons. They have three children — Leah, Maya and Neville.
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