Noel Tata, half-brother of the late Ratan Tata, is expected to become the next chairman of Tata Trusts, sources told PTI on Friday.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.An official confirmation is still awaited after the Tata Trusts board meeting began earlier today to discuss the group’s succession plans following the demise of former Tata Group Chairman on October 9, aged 86.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.Noel Tata currently chairs several companies within the Tata portfolio, including Trent, Tata International Ltd, and Voltas Ltd. 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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