Noel Tata was unanimously chosen to lead the Tata Group’s charitable arm, Tata Trusts, on Friday during a board meeting to go over the succession arrangements for the organization following the 86-year-old Ratan Naval Tata’s passing.
The half-brother of Ratan Tata, Noel Tata, who serves on the boards of numerous public companies, including Tata Steel and Voltas, was chosen by the board.
The choice to name Noel Tata as chairman was made with Ratan Tata’s philosophy of “moving on” in mind.
Mehli Mistry is expected to be named a permanent trustee of Tata Trusts, according to sources. Mehli is the estranged first cousin of the late Cyrus Mistry, the former chairman of the Tata Group.
Ratan Tata plays a more prominent role in the public eye, whereas Noel Tata is recognized for his somewhat low-key leadership style. Ever since joining the Tata Group in the early 2000s, he has played a pivotal role in propelling the conglomerate’s expansion.
Leah, Maya, and Neville Tata, the three children of Noel Tata, were named trustees in many trusts connected to the Sir Ratan Tata and Sir Dorabji Tata Trusts earlier this year.
Currently, Maya works with Tata Capital, while Leah is a vice president at The Indian Hotels. Neville participates with Trent and the Star Bazaar leadership group.
The overarching organization that oversees the operations of all 14 Tata Trusts is called Tata Trusts. Sixty-three percent of Tata Sons is owned by Tata Trusts, which also heavily influences the strategic orientation of one of the biggest corporations in India.
The Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, which together account for more than 50% of the ownership, are the two main trusts under Tata Trust that own the majority of the company’s shares.
Ratan Tata served as the executive committee’s chairman. Mehli Mistry, a trustee, Venu Srinivasan, and Vijay Singh, the vice chairman of Tata Trusts, are the three important members of the committee.
Thousands of individuals, including celebrities, corporate titans, politicians, and simple people, said a heartfelt goodbye to the illustrious Ratan Tata on Thursday.
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