iNDICA NEWS BUREAU-
Tata Trusts has appointed Noel Naval Tata as its new chairman after Ratan Tata’s demise. Ratan Tata served as the chairman of Tata Group for decades and Chairman of the trust. Tata Trusts holds a 66% stake in Tata Sons, the holding company of the numerous firms under the Tata brand, with a legacy spanning over 150 years.
According to an official statement of Tata Trusts, trustees of various trusts that comprise the Tata Trusts held a joint meeting in Mumbai on Friday, October 11. They condoled the demise of Ratan N. Tata, Chairman of Tata Trusts, and recalled his yeoman services not only to the Tata Group but also to nation-building. In separate meetings held immediately afterward, it was unanimously decided to appoint Noel Tata as the Chairman of the various Trusts that constitute the Tata Trusts and also designate him as Chairman of Tata Trusts effective immediately. Noel Tata, 67, will be the 11th chairman of Sir Dorabji Tata Trust and the sixth chairman of Sir Ratan Tata Trust.
Noel Tata, chairman and non-executive director of Tata International Limited, has been with the Tata Group for four decades. According to the Tata Trusts website, Noel’s children, Maya, Neville, and Leah, are also engaged in the family’s charitable activities, serving as trustees of various charities associated with the Tata Trusts. His appointment comes as the trust aims to navigate the challenges of a rapidly changing global landscape while continuing to uphold its commitment to social responsibility and ethical business practices.
Noel Tata holds a degree from Sussex University in the United Kingdom and has completed the International Executive Programme (IEP) at INSEAD. He holds several key positions within the group, including Chairman of Trent Ltd, the Tata Group’s successful apparel retailer, since 2014, Voltas, and Tata Investment Corporation, and serves as Vice Chairman of Tata Steel and Titan Company Limited.
During his tenure, Trent’s shares surged by over 6,000% in the past decade, making it one of the most prosperous Tata companies in recent years. Under his leadership, the company has expanded its store network and workforce, even as competitors have scaled back their operations. Before his position at Trent, Noel was the head of Tata International Ltd from 2010 to 2021. During his time there, the commodity trading company’s revenue grew from $500 million to more than $3 billion.
Speaking on the occasion, Noel Tata, Chairman of Tata Trusts, stated, “I am deeply honored and humbled by the responsibility that has been cast on me by my fellow Trustees. I look forward to carrying on the legacy of Ratan Tata and the founders of the Tata Group. Founded more than a century ago, the Tata Trusts are a unique vehicle for undertaking social good. On this solemn occasion, we rededicate ourselves to carrying on our developmental and philanthropic initiatives and continuing to play our part in nation-building.”
According to the statement from Tata Trusts, since 1892, Tata Trusts, India’s oldest philanthropic institution, has been at the forefront of creating lasting impact among communities. Rooted in the visionary philanthropy of its founder, Jamsetji Tata, the Trusts remain resolute in catalyzing transformative change and leading advancements that uplift communities across the nation.
Ratan Tata passed away on October 9 evening, leaving behind a legacy that has profoundly shaped the landscape of the Tata group. Noel Tata, son of Naval Tata and Simone Tata, now steps into this pivotal role at a time of great change within the Tata Group and its associated trusts. As the new chairman, he will uphold the vision and values instilled by Ratan Tata, who was widely regarded as a titan of Indian industry and a transformative figure for the Tata conglomerate.
