Noel Tata was appointed Chairman of Tata Trusts on October 11, following his half-brother Ratan Tata, who died on October 9 at the age of 86. The appointment was made during a meeting in Mumbai and unanimously approved by the Tata Trusts board.
An important part of the governance of the vast Tata Group is played by Tata Trusts, which owns a controlling 66% of Tata Sons, the holding company. For many years, Ratan Tata oversaw the Tata Trusts and the Tata Group. He had no children and had not designated a successor to take over at the Trusts. The board met as a result to choose the new leader. Noel Tata was viewed as the obvious candidate to assume the position due to his very close relationship with the Trusts.
The decision to nominate Noel Tata came just a day after Ratan Tata’s final rites, with the board meeting focused on both paying tribute to Ratan Tata and picking the new chairman. The board’s decision was apparently consistent with Ratan Tata’s idea of “moving on” and assuring continuous leadership without delay.
Noel Tata’s Role in Tata Trusts
Noel Tata, 67, is a trustee of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, which jointly possess the majority share in Tata Sons. Following Ratan Tata’s death, his long-standing affiliation with the Tata Group and position in these trusts made him the favorite for the chairmanship.
The Parsi community, which has long been associated with the Tata Group, was united in its support for appointing someone of the Tata surname, and Noel Tata was the clear option. His quiet and unobtrusive leadership style stands in stark contrast to his late half-brother Ratan Tata’s more apparent and public approach.
Noel Tata’s appointment is also in line with changes made in 2022, when the Tata Sons board amended its Articles of Association to ensure that the same person could no longer hold the roles of chairman of both Tata Trusts and Tata Sons, a position Ratan Tata had previously held.
Noel Tata’s Career and Contributions
Noel Tata has been a key figure within the Tata Group for over 40 years. He is currently on the boards of several Tata Group companies, including Tata International Limited, Voltas, and Tata Investment Corporation. He also serves as the Vice Chairman of Tata Steel and Titan Company Limited.
His leadership at Trent, the Tata Group’s retail arm, is particularly noteworthy. As Managing Director of Trent for over 11 years, Noel Tata oversaw the company’s impressive growth, transforming Trent into a Rs 2.8 lakh crore retail giant. He was also the Managing Director of Tata International from 2010 to 2021, during which he increased the company’s turnover from $500 million to over $3 billion.
Noel Tata’s contributions to the Tata Group extend beyond these roles. Since 2014, he has been chairman of Trent Limited, a company that has seen its shares rise by over 6,000% in the past decade under his leadership. He is also known for his strategic oversight of the group’s global ventures, particularly in the retail and international business sectors.
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Source: India Today
