Noel Tata Named Chairman of Tata Trusts
Noel Tata was made the Chairman of the Tata Trusts, the philanthropic unit of the Tata Group over the weekend. As a matter of fact, the board, in a unanimous decision on Friday accepted the appointment. The group announced the same after the death of former Chairman Ratan Naval Tata, who died at 86. It was the board meeting where the successor had been discussed and the board members were to ponder on succession. The board members zeroed it down to take a conscious decision and decide on recommending Noel Tata, the half-brother of Ratan Tata to manage the Trusts.
Noel Tata is a number of boards comprises sitting including Tata Steel and Voltas under the Noel Tata garb, and that is really low-key and modest-the exact opposite of the great Ratan's open style. Yet this silent Nelson has played an extremely crucial role for the rise of the conglomerate since he joined the Group in the early 2000s. The appointment is regarded as a continuation of the philosophy of moving forward and a fair way to carry on the legacy of the Group by Ratan Tata.
In addition, news agencies report that Noel Tata being appointed as a trustee, Mehli Mistry one of Cyrus Mistry's first cousins would be a permanent trustee of the Tata Trusts. Mistry who has been at loggerheads with the Tata family for some time now, will be an important member of the Leadership Team of the Trust.
This year, the three children of Noel Tata-Leah, Maya, and Neville-were added as trustees to multiple entities established under the aegis of the Sir Ratan Tata Trust and the Sir Dorabji Tata Trust. Leah is a Vice President at The Indian Hotels; Maya is a Tata Capital employee; and Neville is on the leadership teams of Trent and Star Bazaar.
Its ultimate ownership for Tata Sons stands at 65.3 percent through Tata Trusts, operating 14 trusts, both Sir Ratan Tata Trust and Sir Dorabji Tata Trust, and owning over 50 percent of Tata Sons.