Noel Tata, Ratan Tata’s half-brother, has been appointed as the new chairperson of Tata Trusts, the organization has announced a day after Ratan Tata’s death.
The philanthropic arm of the company, Tata Trusts, owns 66% of Tata Sons, one of India’s largest business groups with annual revenues of more than $100 billion (£76.5 billion).
Naval Tata, Ratan’s father, and Simone Tata are the parents of Noel Tata, 67.
He currently serves on the boards of numerous Tata businesses, including Tata Trusts, and he will now lead the company’s charities.
He is vice chairman of Tata Steel and Titan Company Limited as well as chairman of Tata International Limited, Voltas, and Tata Investment Corporation.
Trent Limited, Tata’s enormous apparel retail business, is also under his direction. Since he took over as CEO in 2014, the company has experienced tremendous growth.
Westside, Zudio, and Utsa are three of the company’s highly successful fashion and lifestyle retail formats.
Noel Tata was in charge of Tata International, the group’s global trading and distribution company, from 2010 to 2021. During this time, the company’s revenue increased from $500 million to over $3 billion.
Noel Tata was named chairman of Tata Trusts on Friday, according to a press release.
Noel Tata said that the opportunity made him feel “deeply honoured and humbled” and that he was looking forward to carrying on his brother’s legacy.
According to the release, he stated, “On this solemn occasion, we rededicate ourselves to carrying on our developmental and philanthropic initiatives and continuing to play our part in nation building.”
The three children of Noel Tata serve as trustees on the boards of several charities that are related to the Tata family.
His child Neville is head of Star Market, the gathering’s chain of retail stores. Leah Tata, his daughter, is in charge of The Indian Hotels Company’s Gateway brand. Maya Tata is his second daughter, and she works at Tata Digital.
Since Ratan Tata was not married, had no children, or had publicly named a successor, people were curious about who would take over the Tata Trusts after his death.
He left his position as chairman of Tata Sons in 2012 and gave Cyrus Mistry the reins. Mistry was abruptly fired in 2016, and Tata served as interim chairman for a few years again. N Chandrasekaran was appointed chairman in 2017, a position he still holds.
The group’s chairman emeritus was Ratan Tata’s next position, which he held until his death. Additionally, he served as chairman of the charitable arm until the end.
