Noel Tata appointed chairman of Tata Trusts
Noel Tata, the half-brother of the late industrialist Ratan Tata, has been unanimously elected as the new chairman of Tata Trusts, following Ratan Tata’s passing.
Muscat: Noel, a long-serving key trustee of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, will now head the philanthropic arm that controls a majority stake in Tata Sons, the vast Tata Group holding company.
The appointment has long been expected, given Noel Tata’s deep involvement with Tata Trusts and his leadership across multiple Tata entities, including Trent, Voltas, Tata International, and Tata Investment Corporation. His business acumen and his close ties to the Shapoorji Pallonji group through his marriage to Aloo Mistry position him as a significant figure within the conglomerate. The Mistry family holds an 18.3% stake in Tata Sons.
This leadership transition comes after the death of Ratan Tata on October 9 at the age of 86. Ratan, a towering figure in Indian industry, left no formal successor for Tata Trusts, sparking widespread speculation about future governance. Tata Trusts, which oversees a 66% stake in Tata Sons, play a vital role in shaping the company’s direction, spanning industries from automobiles to aviation. In addition to their corporate governance, the trusts also charitable efforts, contributing over Rs 456 crore (around $56 million) in the financial year 2022-23.
