Noel Tata has been appointed as the chairman of Tata Trusts, the philanthropic wing of Tata Group. With this, he became the successor of Ratan Tats who passed away on October 9 at the age of 86 years. The meeting was held today in Mumbai and the decision to make Noel Tata Trusts chief was unanimous.
For those who are unaware, Noel Tata is the half-brother of Ratan Tata, and the latter neither married nor had any children. Noel Tata’s appointment as the chairman is a crucial decision as Tata Trusts owns 66% of Tata Sons which is the holding company of multiple firms that run under the Tata brand. It is being said that the early decision regarding the position came following Ratan Tata’s principle of ‘moving on.’
As for Noel Tata, he is also the chairman of Trent, Voltas, Tata Investment Corporation, and Tata International. He is the son of Simone Tata and Naval H Tata. Noel Tata’s wife Aloo Mistry belongs to the highly influential Mistry family. Furthermore, the Shapoorji Pallonji group, run by the Mistry family has around 18.3% stake in Tata Sons.
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Corporate lawyer HP Ranina said that Tata Trust has made the right choice by appointing Noel Tata as the chairman. He further added that one can expect ‘total continuity and harmony’ from Noel. R Gopalakrishnan also shared his positive feelings about the appointment of Noel Tata as the chairman of Tata Trusts. He said Noel Tata will be able to add a lot of value to the Tata Trusts with his entrepreneurial and business acumen.
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