Business News
Noel Tata appointed chairman of Tata Trusts
Noel Tata has been a key figure in the growth of the Tata Group since he joined the group in the early 2000s.
New Delhi: Noel Tata, the half-brother of Ratan Tata, has been appointed chairman of the Tata Trusts, sources told NDTV Profit.
Noel Tata is the vice-chairman of Tata Steel and watch company Titan. His mother Simone Tata, a French-Swiss Catholic and stepmother to Ratan Tata, is currently the chairman of Trent, Voltas, Tata Investment Corporation and Tata International.
Noel Tata has received majority consent, sources told NDTV Profit, adding that he has been groomed for years to take over. Noel Tata has been a key figure in the growth of the Tata Group since he joined the group in the early 2000s.
Meetings of the Sir Ratan Tata Trust and the Dorabji Tata Trust are underway. Both of them are likely to appoint Noel Tata to the position of the talented industrialist, sources said.
The Tata Trusts – the umbrella body that manages the affairs of all the 14 Tata trusts – is likely to bring in Noel Tata as the chairman of the executive committee, sources said.
Tata Sons is primarily owned by two major trusts – Sir Dorabji Tata Trust and Sir Ratan Tata Trust, which together make up more than 50 per cent of the ownership.
The Tata Trusts currently have Venu Srinivasan, Vijay Singh and Mehli Mistry as executive committee members.
Ratan Tata’s younger brother Jimmy is not associated with the family business and lives in a modest two-bedroom apartment in Colaba, south Mumbai.
Born in a traditional Parsi family in 1937, Ratan Tata was raised by his grandmother after his parents, Naval and Sooni Tata, got divorced when he was 10 years old.
