Mumbai After Ratan Tata’s retirement, Noel Tata, who could not become the chairman of Tata Group in 2012, will now be the chairman of Tata Trust. After the death of Ratan Tata, he has been elected chairman of Tata Trust. It is noteworthy that Tata Trust’s stake in Tata Group is 66 percent. Noel Tata is already a trustee of two family trusts. He is the step brother of Ratan Tata. On Friday, October 11, a day after the funeral of Ratan Tata, the announcement of Noel Tata as the chairman of Tata Trust was made.
It is noteworthy that Ratan Tata died on October 9 at the age of 86. After his death, Noel was the strongest and possibly the only contender for the post of Chairman of Tata Trust. Although his brother Jimmy’s name was also in discussion, he has already retired and his health is very bad. However, the name of 66-year-old Noel was agreed upon in the Tata Trust meeting in Mumbai on Friday. Tata Trust said in an official statement that his appointment will come into effect immediately.
After being elected Chairman of Tata Trust, Noel said- I feel very honored by the responsibility that my fellow trustees have given me. I look forward to carrying forward the legacy of Ratan Tata and the founders of the Tata Group. He said- Established more than a century ago, Tata Trusts is a unique vehicle for working for social good. We rededicate ourselves to pursuing philanthropic initiatives and playing our role in nation building.
It is noteworthy that Noel Naval is the son of Tata’s second wife Simone, while Ratan Tata and Jimmy Tata are the children of Naval and his first wife Suni. Noel started his career with Tata International. In 1999, he was made the managing director of Trent, the group’s retail arm. It was started by his mother Simone. In 2010-11, he was made the chairman of Tata International. After this, discussion started about his becoming the chairman of Tata Group. However, in 2012, Ratan Tata supported Cyrus Mistry after his retirement at the age of 75, making him the chairman.
However, four years later, Cyrus Mistry was removed as the chairman of the Tata Group and Ratan Tata took charge in the interim and then N Chandrasekaran was made the full-time chairman. However, Noel Tata became the vice chairman of Titan in 2018 and was inducted into the trust’s board in 2017.