- Noel Tata becomes Tata Trusts chair after Ratan Tata’s death
- He oversees Tata International, Trent, and other Tata firms
- Noel pledges to continue philanthropic work and nation-building
The group stated that a day after the death of India’s most well-known entrepreneur, Ratan Tata, his half-brother Noel Tata was named the new chairperson of Tata Trusts.
Tata Trusts is the company’s philanthropic arm, owning a 66% interest in Tata Sons, one of India’s largest commercial groups with annual revenues of over $100 billion (£76.5 billion).
Noel Tata, 67, is the son of Naval Tata (Ratan’s father) and Simone Tata.
He serves on the boards of several Tata firms, including Tata Trusts, and will now manage its charities.
He serves as the chairman of Tata International Limited, Voltas, and Tata Investment Corporation, as well as the vice chairman of Tata Steel and Titan Company Limited.
He also leads Tata’s enormous garment retail subsidiary, Trent Limited, which has grown dramatically since he took over control in 2014.
The company runs highly successful fashion and leisure store formats like Westside, Zudio, and Utsa.
Noel Tata managed the group’s global trading and distribution arm, Tata International, from 2010 to 2021, during which time revenue increased from $500 million to more than $3 billion.
Tata Trusts announced on Friday that Noel Tata has been unanimously elected chairman.
Noel Tata said he was “deeply honoured and humbled” by the opportunity and looked forward to continuing on his brother’s legacy.
On this solemn occasion, we renew our commitment to carrying out our developmental and philanthropic activities and continuing to contribute to nation-building, he stated in the announcement.
Noel Tata’s three children also serve as trustees for several family-related charities.
His son Neville oversees Star Bazaar, the group’s retail supermarket chain. His daughter, Leah Tata, is in charge of The Indian Hotels Company’s Gateway brand. His other daughter, Maya Tata, works for Tata Digital.
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Ratan Tata was single, had no children, and had not publicly selected a successor. Therefore, his death aroused extensive speculation about who might take over the Tata Trusts as his successor.
He stepped down as Tata Sons chairman in 2012, and Cyrus Mistry took control. Mistry was abruptly ousted in 2016, and Tata took over as interim chairman for a few years. In 2017, N Chandrasekaran was appointed chairman, a position he still occupies.
After that, Ratan Tata was appointed chairman emeritus of the group, a position he held until his death. He remained chairman of the charity arm till the end.
