Noel Tata, Ratan's half-brother, chosen to head Tata Trusts

Noel Tata has been named the chairman of Tata Trusts, the charitable division of the Tata Group. He is the son of Naval H. Tata and Simone N. Tata. Noel Tata, 67, takes over from his half-brother, Ratan Tata, who passed away on Wednesday at the age of 86.

According to an executive familiar with the matter, the board of Tata Trusts convened on Friday morning and approved the appointment of Noel Tata as the chair of Tata Trusts.

"Today, there was a condolence meeting, after which the board of Tata Trusts approved the name of Noel Tata to succeed Ratan Tata," the executive told Mint.  Tata Trusts collectively own Tata Sons,  the parent company of the Tata Group and holds the bulk of shareholding in the Tata Group of companies.

Noel Tata is currently a trustee of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, which collectively own a substantial 66% stake in Tata Sons, the holding company of the diversified Tata Group. The Trusts have not yet provided any statements regarding succession planning.

After Ratan Tata's passing, attention has shifted to the leadership of the Tata Trusts. As India's largest public charitable foundation, the boards of Tata Trusts must now choose a new chairman from among the current trustees, since Ratan Tata did not designate a successor before his death.

Noel a part of Tata Group for 4 decades

Noel is the chairman and non-executive director of Tata International Limited and has been associated with the Tata Group for 40 years. He holds various board positions within the group, cincluding Chairman of Trent, Voltas, and Tata Investment Corporation, as well as vice-chairman of Tata Steel and Titan Company Limited. In his most recent executive role as managing director of Tata International Limited, he led the company through a period of significant growth, with revenue rising from $500 million to over $3 billion between August 2010 and November 2021.

Noel holds Irish citizenship

Noel Tata possesses Irish citizenship, a reflection of his family's international ties, yet his identity and professional endeavors are deeply rooted in India.

Noel Tata was a potential candidate for the position of Tata Sons Chairman

Noel Tata had earlier been considered a viable candidate for the chairmanship of Tata Sons, but the position ultimately went to Cyrus Mistry, who is Noel's brother-in-law. Following Mistry's contentious departure, N Chandrasekaran, then CEO of Tata Consultancy Services (TCS), assumed the chairmanship of Tata Sons.

In a demonstration of the family's dedication to philanthropy, Noel Tata's three children—Maya, Neville, and Leah—have been appointed trustees of various philanthropic organisations associated with Tata Trusts, which manages the substantial $150 billion Tata Group. This generational engagement is intended to strengthen the governance of the trusts and preserve the philanthropic heritage established by their ancestors.

Noel's low-profile leadership style

Noel Tata is recognised for his understated leadership style, which stands in stark contrast to Ratan Tata’s more visible and media-centric approach. While Ratan Tata's tenure was characterised by significant public engagement, Noel has concentrated on the Tata Group's international operations and retail sectors. He has been crucial to the growth of the group's retail division, particularly through his leadership at Trent, where he transformed the company into a major player in the retail market.

(By arrangement with livemint.com)