Noel Tata Leads Tata Trusts: After the death of Ratan Tata, the command of the group’s largest stake holder ‘Tata Trust’ has been handed over to his step brother Noel Tata. In the meeting held in Mumbai on Friday, a consensus was reached on Noel’s name.
Noel Tata was a strong contender to carry forward the Tata legacy due to his family ties and involvement in several group companies. Noel Tata is already a trustee of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust.
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Tata Trust holds 66% stake in the group with revenue of ₹13.8 lakh crore
The importance and size of Tata Trust can be understood from the fact that it is a group of charitable organizations of Tata Group. It holds a 66% share in Tata Group which has a revenue of Rs 13 lakh crore.
The Tata Trusts include the Sir Ratan Tata Trust and Allied Trusts and the Sir Dorabji Tata Trust and Allied Trusts. These trusts, which focus on poverty alleviation, healthcare, and education, are an integral part of Ratan Tata’s legacy.
Noel became the chairman of Trent in 2014, the share increased by 6000%
Since 2014, he has been the chairman of Trent Limited. Trent is the owner of Judio and Westside. Under his leadership, the company’s shares have increased by more than 6,000% in the last 10 years. Under Noel’s leadership, the company has increased the number of its employees and stores at a time when its market peers were declining.
Step brother Noel elected as successor of Ratan Tata, Know everything about the new chairman of Tata Trust
Noel is the chairman of Tata Group company Trent and Voltas
Naval and Simone Tata’s son Noel is the chairman of Trent, Voltas, Tata Investments and Tata International. He is also the vice chairman of Tata Steel and Titan.
Noel, an Irish citizen, their three children
67-year-old Noel Tata is the half-brother of Ratan Tata and has been associated with the Tata Group, including the Tata Trusts, for many years. He is the son of Naval Tata’s second wife. Noel is an Irish citizen. Noel is married to Aloo Mistry. Aloo is the daughter of Pallonji Mistry, the largest shareholder in Tata Sons.
Noel Tata Set to Lead Tata Trusts After Four Decades in Group
Ratan Tata had not chosen a strong successor. In such a situation, a chairman had to be elected from among the trustees of his trust. Tata Group has two main trusts – Sir Dorabji Tata Trust and Sir Ratan Tata Trust. Both these trusts jointly have about 52 percent stake in Tata Group’s parent company Tata Sons.
Tata Sons operates the companies of Tata Group. This group handles portfolios ranging from aviation to FMCC. There are a total of 13 trustees in both the trusts. These people are trustees in both the trusts.
These include former Defense Secretary Vijay Singh, automobile sector veteran Venu Srinivasan, Ratan Tata’s step brother and Trust Chairman Noel Tata, businessman Mehli Mistry and lawyer Darius Khambatta.
It is also a historical fact that only Parsis have taken charge of Tata Trusts. However, some of them did not have Tata in their names and they had no direct relation with the founding family of the trust. If Noel Tata is elected the head of these trusts, he will become the 11th chairman of Sir Dorabji Tata Trust and the sixth chairman of Sir Ratan Tata Trust. Noel has been associated with the Tata Group for more than four decades.
Noel Tata’s children have been given important positions.
Earlier this year, Tata Group appointed Noel Tata’s three children as the heads of its five charity organizations. Noel Tata’s children are named Leah, Maya and Neville. These three have been made trustees of five trusts of Sir Dorabji Tata Trust and Sir Ratan Tata Trust. Ratan Tata gave the green signal for appointment to all these posts. Let us tell you that these three have already held important positions in the Tata Group.
Also read:
Ratan Tata Passes Away at 86: Iconic Business Tycoon Dies at Mumbai’s Breach Candy Hospital
