Tata Trusts, the philanthropic arm of the Tata Group,
A new chairman: Noel Tata, son of Naval H Tata and Simon N Tata. His half-brother Ratan Tata passed away this week at the age of 86. He was the one who succeeded him. Less than 48 hours after Ratan Tata’s passing, Noel was selected to lead the charitable organisation that controls most of Tata’s companies. The trustees decided unanimously to propose Noel. A declaration from the Trustee certifies it. Tata Trusts issued it on Friday. The group’s controlling entity, Tata Sons Pvt. Ltd., owns approximately 66% of the REIT.
One executive close to him spoke on anonymity. Two critical meetings involving eight Tata Trust members were held on Friday afternoon. The first was a meeting to express condolences. Each of Tata’s handlers talked briefly about how much they loved and missed Ratan Tata.
Noel Tata, former Defense Minister Vijay Singh, T.V.S Motor Ltd. Honorary Chairman Venu Srinivasan, Jehangir H.C. Jehangir, Jehangir Hospital CEO, businessman Mehli Mistry, senior advocate Darius Khambata, former Citibank India CEO Pramit Jhaveri and Siddharth Sharma. Tata Trust’s CEO also attended the meeting. A second meeting was held soon after. In the meantime, Siddhartha Sharma withdrew, leaving the other seven trustees to choose Ratan Tata’s replacement. Noel Tata did not participate in these discussions and remained silent. during consideration
Additionally, it was stated that Noel Tata would take over as Tata Trusts’ new chairman, effective immediately. In a statement, Noel expressed his honour at accepting the position and expressed his excitement to carry on Mr. Ratan N. Tata, the creator of the Tata Group,’s legacy on this momentous occasion. We reaffirm our commitment to philanthropic work and national development.
Participating executives thought Noel’s early nomination process choices were consistent with Ratan Tata’s philosophy, emphasising organisational stability over individual leadership.
The Tata Group and Noel Tata
He began working with Trent Limited as a Managing Director in 1999 and was elevated to Chairman in 2014. In 2018, he was named Vice Chairman of Titan Limited. He will hold a comparable role at Tata Steel in 2022. He oversees both the Sir Dorabji Tata Trust and Allied Trusts and the Sir Ratan Tata & Allied Trusts. He has been named a Trustee for two significant nonprofit organisations.
Noel owns 1% of Tata Sons shares, making him the most significant stakeholder. Their brother Jimmy holds 0.81%, while Ratan Tata holds 0.83%.
The Tata Trusts comprise seven fundamental trusts, which collectively control 65.9% of these funds and are in charge of Tata Sons’ charity endeavours. Along with smaller trusts like MK Tata Trust and Sarvajanik Seva Trust, JRD Tata Trust, Tata Education Trust, Tata Social, and other trusts like welfare funds, the two largest trusts in Tata Sons are Sir Dorabji Tata Trust and Sir Ratan Tata Trust, holding 27.98% and 23.56% of the company’s shares, respectively.
Consultants with knowledge of the group claim that Noel Tata was appointed ahead of schedule. It indicates the company’s commitment to preserving the solid partnership between Tata Trusts and Tata Sons, guaranteeing the latter’s leadership in both business and philanthropy.
The Tata Group operates on three main tiers, and Tata Trusts is widely recognised for its humanitarian and philanthropic endeavours.