Mumbai: In a significant leadership transition, Noel Tata has been unanimously appointed as the Chairman of Tata Trusts, the philanthropic arm of the Tata Group, during a board meeting held on Friday. This decision comes in the wake of the passing of Ratan Naval Tata, who died at the age of 86.
The board’s decision reflects a desire to honor Ratan Tata’s legacy of progressive leadership and his philosophy of “moving on.” Noel Tata, Ratan Tata’s half-brother, brings a wealth of experience, serving on the boards of prominent Tata companies, including Tata Steel and Voltas.
Notably, the board has also decided to appoint Mehli Mistry as a permanent trustee of Tata Trusts. Mistry is the estranged first cousin of the late Cyrus Mistry, who previously served as chairperson of the Tata Group.
Noel Tata is recognized for his understated leadership style, which stands in contrast to Ratan Tata’s more public persona. Since joining the Tata Group in the early 2000s, Noel has played a crucial role in the conglomerate’s growth and diversification.
Earlier this year, Noel Tata’s three children—Leah, Maya, and Neville—were appointed as trustees in various trusts affiliated with the Sir Ratan Tata Trust and Sir Dorabji Tata Trust. Leah serves as vice president at The Indian Hotels, Maya is associated with Tata Capital, and Neville is involved with Trent and the leadership team at Star Bazaar.
Tata Trusts operates as the umbrella organization managing the activities of 14 Tata Trusts. With ownership of 65.3 percent of Tata Sons, Tata Trusts significantly influences the strategic direction of one of India’s largest conglomerates. The Sir Dorabji Tata Trust and Sir Ratan Tata Trust together hold over 50 percent of Tata Sons.
The executive committee responsible for these changes was chaired by Ratan Tata prior to his passing, with key members including Venu Srinivasan and Vijay Singh serving as Vice Chairmen, alongside Mehli Mistry.
The announcement follows a period of mourning for Ratan Tata, who was honored with a heartfelt farewell from thousands, including political leaders, industry captains, celebrities, and the general public.