On Friday, 11th October, Noel Tata, the chairman of Tata Trent and vice chairman of Tata Steel, was chosen as the new chairman of Tata Trusts. This is after Ratan Tata, the previous chairman of the Tata conglomerate’s philanthropy arm, died on the night of October 9th, 2024, at the age of 86, due to old age complications.
Tata Trust is the fundamental body that oversees the operations of all 14 Tata Trusts and holds the majority of shares in Tata Sons, the Tata Group holding company. The two main trusts are Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, which together own nearly 52% of the company. Other trusts together own another 14% of Tata Sons, taking the total holding to 66%.
The position of chief of Tata Trusts fell vacant after the demise of Ratan Tata, and his half-brother Noel Tata was seen as the frontrunner for the position. As per expectations, he has been selected as the new head of the trust. As per reports, many ‘old timers’ wanted him to lead the venture. His appointment to the post continues the tradition of Parsis hearing the trust.
After the announcement, he said that he is deeply honoured and humbled by the responsibility that has been cast on him by his fellow Trustees.
Noel Tata was born in December 1957 and is Ratan Tata’s half-brother. He graduated from Sussex University (UK) and finished the International Executive Programme (IEP) at INSEAD.
He is an Irish citizen and currently heads Tata group companies Trent and Voltas. He has transformed Trent into the biggest fashion chain in the country. He is married to Aloo Mistry, and their three children, Leah, Maya, and Neville Tata, are all actively involved in the Tata group business. Leah Tata works as a Vice President at the Indian Hotels Company while Maya Tata is linked with Tata Capital. Neville Tata on the other hand is a member of Trent’s leadership team at Star Bazaar.
Noel’s mother Simone Tata, the second wife of Ratan Tata’s father Naval Tata, was born in Switzerland and is known to have started the fashion brand Lakme here.
Noel Tata’s most notable position prior to this new assignment was as Managing Director of Tata International Ltd, the group’s trade and distribution arm. Between 2010 and 2021, the company’s revenue increased from $500 million to more than $3 billion, demonstrating its capacity to drive growth in a highly competitive sector.
As Managing Director of Trent Ltd, Tata’s retail arm, he led the company’s expansion from a single store in 1998 to over 700 outlets in a variety of forms. Noel Tata now serves as the chairman of Trent, Tata International Limited, Voltas, and Tata Investment Corporation. He is also the vice chairman of Tata Steel and Titan Company Limited.
He is also a trustee on the boards of Sir Ratan Tata Trust and Sir Dorabji Tata Trust, which together own more than 50% of Tata Sons. These two trusts are the administrative wings, and they can both assign persons to Tata Trust. 67-year-old Noel Tata has been associated with the Tata Group for the last 4 decades. With this appointment, Noel Tata becomes the sixth chairman of the Sir Ratan Tata Trust and the eleventh chairman of the Sir Dorabji Tata Trust.
Noel Tata was once considered a candidate for the presidency of Tata Sons, but the keys were handed over to Cyrus Mistry, Noel’s brother-in-law. At that time, he was deemed not experienced enough for the position. Following Mistry’s controversial exit, N Chandrasekaran, the then-CEO of Tata Consultancy Services (TCS), was appointed chairman of Tata Sons.
Ratan Tata, the name associated with one of India’s most famous industrial conglomerates, the Tata Group, has left an indelible influence on the worlds of business and society. His leadership, charity, and imaginative thinking have revolutionized not only the corporation but also the Indian and global corporate landscapes. His death on 9th October has created a huge void in the industrial space provoking each Indian to remember his ideals, his greatness, and his determination towards the nation’s overall development.
While Tata Trusts owns 66% of Tata Sons, it does not have direct control over the holding company or the group companies. But the trust appoints a third of the directors to Tata Sons who have veto power over board decisions. While Tata Sons is not compelled to seek directions from the trusts, it is an understanding that there is consulting between the two arms on major decisions. As a result, the Tata Trust and its head have considerable say in the group, although indirectly.
Tata Sons is a major Indian conglomerate of nearly 100 companies operating in several sectors including automobiles, aviation, beverages, chemicals, consumer products, energy, engineering, finance and insurance, information systems, materials, retail, services, semiconductor, steel, tourism etc.
