Noel Tata, half-brother of the late Ratan Tata, will be the next chairman of Tata Trusts, sources told PTI on Friday. A formal announcement on the appointment of Noel is likely soon.67-year-old Noel was chosen to lead the trusts, which collectively own Tata Sons, in a meeting on Friday. He will become the 11th chairman of Dorabaji Tata Trust and the sixth chairman of Ratan Tata Trust.The meeting of the board was held to choose the successor to Ratan Tata (86) after his demise on Wednesday due to age-related health conditions.Tata Trusts is the umbrella body that manages the functions of all 14 Tata Trusts. It owns 65.3 percent of Tata Sons and plays a significant role in guiding the direction of one of India’s largest conglomerates.The board meeting went underway in the financial capital to discuss the crucial succession plans. The trust deeds provide clear guidance on the appointment of the Trusts Chairperson, paving the way for the key leadership transition.Son of Naval H Tata and Simone N Tata, Noel currently chairs several companies within the Tata portfolio, including Trent, Tata International Ltd, and Voltas Ltd.He is a trustee on the boards of Sir Ratan Tata Trust and Sir Dorabji Tata Trust and has been associated with the Tata Group for over 40 years.Having functioned mostly under the shadows of his illustrious half-brother, Noel will now have the responsibility of leading the Tata Trusts—broadly comprising Sir Ratan Tata Trust & Allied Trusts, and Sir Dorabji Tata Trust & Allied Trusts—that hold a controlling 66 percent stake in Tata Sons, the holding and promoter firm of Tata Group companies.Noel has been instrumental in the conglomerate’s growth since joining the Tata Group in the early 2000s. In recent years, he has taken on increasingly important responsibilities within the Trusts.In February 2019, Noel was inducted onto the board of the Sir Ratan Tata Trust. He was also made the vice chairman of Titan Company in 2018, and in March 2022, he was appointed vice chairman of Tata Steel, further solidifying his presence within the group.Earlier this year, Noel Tata’s three children—Leah, Maya and Neville—were appointed as trustees in multiple trusts associated with the Sir Ratan Tata Trust and Sir Dorabji Tata Trust.Leah is currently vice president at The Indian Hotels, while Maya is associated with Tata Capital. Neville is involved in Trent and the leadership team at Star Bazaar.Ownership of Tata Sons is largely held by two key trusts under Tata Trust—Sir Dorabji Tata Trust and Sir Ratan Tata Trust, which together comprise over 50 percent of the ownership.The executive committee was chaired by Ratan Tata.The key three key members of the committee are Venu Srinivasan and Vijay Singh as Vice Chairman of Tata Trusts and Mehli Mistry as trustee.(With inputs from PTI, ENS and IANS)
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