Noel Tata, Ratan Tata's half-brother, appointed chairman of Tata Trusts after revered industrialist's' demise: Reports
Ratan Tata, who never married and had no children, did not name a successor for Tata Trusts
PTC Web Desk: Noel Tata has been appointed as the chairman of Tata Trusts, the philanthropic arm of the Tata Group, according to a CNBC TV18 report citing sources. This appointment follows the passing of his half-brother, Ratan Tata, on October 9 at the age of 86. The decision was made unanimously during a meeting held in Mumbai on October 11.
Ratan Tata, who never married and had no children, did not name a successor for Tata Trusts. According to the report, the choice to appoint Noel Tata as chairman aligns with Ratan Tata’s philosophy of ‘moving on.’
Who is Noel Tata?
Tata Trusts is one of India’s largest charitable foundations and the majority owner of the $165-billion Tata Group. The Trusts' two key entities, the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, collectively hold around 52% of Tata Sons, the parent company of the Tata Group, which spans diverse sectors, including aviation and automobiles.
Noel Tata's appointment could resonate positively with the Parsi community, ensuring that a member of the founding family continues to lead the philanthropic organisation, which distributed approximately Rs 470 crore ($56 million) in FY23. Traditionally, the Tata Trusts' chairmanship has been held by Parsis, even when they did not bear the Tata surname or have direct ties to the family.
Noel N Tata is the Chairman and Non-Executive Director of Tata International Limited and has been associated with the Tata Group for over four decades. He holds key positions across several Tata Group companies, including Chairman of Trent, Voltas, and Tata Investment Corporation, as well as Vice Chairman of Tata Steel and Titan Company Limited. He is also a trustee of the Sir Ratan Tata Trust and Sir Dorabji Tata Trust.
Earlier, he served as the Managing Director of Tata International Limited, overseeing its growth from a turnover of $500 million to over $3 billion between 2010 and 2021. Before that, as Managing Director of Trent Limited, he expanded the company from a single store in 1998 to over 700 stores.
Noel Tata holds a degree from Sussex University (UK) and has completed the International Executive Programme (IEP) at INSEAD. He was earlier considered for the role of chairman of Tata Sons, but the position went to Cyrus Mistry, who is also his brother-in-law. After Mistry’s controversial exit, N. Chandrasekaran, a veteran executive from TCS, took over as chairman of Tata Sons. While Noel and Ratan Tata maintained a distance for many years, they have recently become closer, according to reports.
Noel Tata would be the 11th chairman of the Sir Dorabji Tata Trust and the sixth chairman of the Sir Ratan Tata Trust, continuing the tradition of Parsi leadership at the Trusts.