Tata Trusts Unanimously Choose Noel Tata as New Leader Following Ratan Tata’s Demise
MUMBAI, Oct 11: Noel Tata, the half-brother of the late industrial icon Ratan Tata, has been appointed as the new Chairman of Tata Trusts, a consortium of charitable organizations that hold a controlling stake in Tata Sons, the $165 billion salt-to-software conglomerate. In an official statement, Tata Trusts announced that Noel would succeed his half-brother and take over as Chairman of all the trusts under the Tata Trusts umbrella. This significant decision was made during a joint meeting of trustees in Mumbai, where they paid tribute to Ratan Tata’s unparalleled contributions to both the Tata Group and India’s development.
In separate meetings following the tribute, the trustees unanimously agreed to Noel Tata’s appointment, effective immediately. Expressing his commitment, Noel stated, “I look forward to continuing the legacy of Mr. Ratan N Tata and the founders of the Tata Group. The Tata Trusts have been a unique force for social good for over a century, and we aim to uphold that legacy.” He further emphasized the Trusts’ dedication to philanthropy and development, reinforcing their role in the nation’s progress.
At 67, Noel Tata steps into a prominent role within the Tata empire, which includes Sir Ratan Tata Trust, Sir Dorabji Tata Trust, and their allied organizations. Collectively, these trusts control a 66% stake in Tata Sons, the promoter entity for various Tata Group companies. Although Noel has worked largely out of the public eye, he has been a trustee of the Sir Ratan Tata Trust and Sir Dorabji Tata Trust for several years, preparing him for this leadership role.
A low-profile figure, Noel was present at the cremation of his half-brother on Thursday. His involvement with the Tata Group began in 1999, and he currently chairs Trent, the retail segment of the conglomerate, which includes successful brands like Westside and Zudio, boasting a market capitalization exceeding ₹2 lakh crore. He also chairs Voltas and Tata International, further showcasing his expansive role in the group’s commercial ventures.
Noel Tata’s family connections also tie him to the Shapoorji Pallonji group, as he is married to Aloo Mistry, sister of the late Cyrus Mistry. The Shapoorji Pallonji group, with an 18.4% shareholding in Tata Sons, is the largest private stakeholder. Despite historical tensions between the two families, especially after Cyrus Mistry’s removal as chairman of Tata Sons, Noel’s leadership marks a new chapter.
Tata Sons, the principal operating and holding company of the group, reported a revenue of $165 billion last year, highlighting the vast scale and influence of the conglomerate Noel Tata now helps steer.
