Mumbai. Noel Tata was on Friday appointed chairman of Tata Trust, the promoter of Tata Sons. This decision was taken in the board meeting of Tata Trust held to choose the successor after the death of former Tata Group Chairman Ratan Tata. Noel Tata has been unanimously made the chairman of Tata Trust by the board. Noel Tata is the half brother of Ratan Tata. He currently sits on the boards of several listed companies including Tata Steel and Voltas. According to reports, Mehli Mistry may be appointed as the permanent trustee of Tata Trust. Mehli is the cousin of late Cyrus Mistry, former chairman of Tata Group. Noel Tata is known for his low-profile leadership, which is in sharp contrast to Ratan Tata’s more public-facing role. He first joined Tata Group in the year 2000. Earlier this year, Noel Tata’s three children – Leah, Maya and Neville – were appointed as trustees in several trusts linked to Sir Ratan Tata Trust and Sir Dorabji Tata Trust.
Leah is currently the Vice President at ‘The Indian Hotels’. Whereas, Maya is associated with ‘Tata Capital’. Neville joins Trent and Starr Bazaar’s leadership team. Tata Trust is the umbrella body that manages the affairs of all the 14 Tata Trusts. Tata Trust holds 65.3 percent stake in Tata Sons and works to guide India’s largest business group. Tata Sons is largely owned by two major trusts under the Tata Trusts, Sir Dorabji Tata Trust and Sir Ratan Tata Trust, which together hold more than 50 percent stake in Tata Sons. Thousands of people, including top political leaders, industry stalwarts, celebrities and common people, paid tribute to Ratan Tata on his demise on Thursday.