Noel Tata, centre, at the NCPA lawns where mortal remains of Ratan Tata were kept for public viewing in Mumbai on October 11, 2024 | Photo Credit: Emmanuel Yogini
Noel Naval Tata was appointed chairman of Tata Trusts on Friday (October 11, 2024), according to sources. He succeeds Ratan Tata, who died on October 9, 2024.
A confirmation from the Trust is awaited.
Noel Tata, 66, is Ratan's half brother and has been the trustee in four of the trusts that make Tata Trusts, which is the conglomerate Tata group's philanthropic arm.
Noel's appointment is of significance as Tata Trusts owns 66% of Tata Sons, the holding company of various firms under the Tata brand which is more than 150 years old.
Ratan, one of India's most respected corporate leaders, built the Tata empire into a global conglomerate that spanned across industries.
Established in 1892
Tata Trusts was setup by Noel and Ratan's great grandfather Jamsetji Tata in 1892, years after he founded the Tata group.
Tata Trusts has since diversified into various sectors such as education, healthcare and housing.
Noel Naval Tata already serves as a trustee on the board of Sir Ratan Tata Trust and Sir Dorabji Tata Trust. He is also the chairman of Tata Trent and vice chairman of Tata Steel.
Ratan, who never married, was known for his exemplary business acumen and philanthropic.
He was chairman of the autos to steel conglomerate for over 20 years, and was responsible for acquisitions of foreign companies during his tenure.
(With inputs from Reuters)
Published – October 11, 2024 02:26 pm IST