Mumbai: Noel Tata has been unanimously elected as the chairman of Tata Trusts, which holds a controlling stake in Tata Sons, the holding company of the Tata Group, CNBC-TV18 reported on Friday.
Noel Tata’s appointment as the chairman of Tata Trusts was long anticipated, given his close links with Tata Trusts.
His appointment follows the passing away of Ratan Tata on October 9 at the age of 86. Ratan Tata served as Chairman Emeritus of Tata Sons and helmed Tata Trusts.
Currently, chairman of Trent, Voltas, Tata International, and Tata Investment Corporation, Noel Tata is the son of Naval H Tata and Simone Tata. He is also a stepbrother of Ratan Tata. Noel Tata is married to Aloo Mistry, making him closely linked to the influential Mistry family. Noel Tata is a key trustee of Sir Dorab Tata Trust and Sir Ratan Tata Trust.
The Mistry family has a controlling stake in the Shapoorji Pallonji group, which has an 18.3% stake in Tata Sons. Before his death, Ratan Tata had not named a successor for the Tata Trusts, sparking speculation about its future leadership.
Tata Trusts has two major offshoots: Sir Dorabji Tata Trust and Sir Ratan Tata Trust. Tata Trusts is a leading public charitable foundation, managed by a board of 13 trustees. Tata Trusts holds a 66% stake in Tata Sons, playing a critical role in the governance of the companies in the conglomerate. Tata Sons is the holding company for a diverse range of businesses, from automobiles to aviation.