Noel Tata was appointed chairman of Tata Trusts on October 11, replacing his half-brother Ratan Tata, who passed away on October 9 at the age of 86. The appointment was made during a meeting held in Mumbai and was unanimously agreed upon by the board of Tata Trusts.
Tata Trusts, which holds a 66 per cent stake in Tata Sons, the holding company of the Tata Group, plays a key role in the group’s governance. Ratan Tata, who headed the Tata Trusts and the Tata Group for many years, did not have children and did not name a successor for his position in the trust. As a result, the board convened a meeting to decide the next leader.
The decision to appoint Noel Tata comes a day after Ratan Tata’s funeral, with the board meeting focusing on paying tribute to Ratan Tata and electing a new chairman. The board’s decision was reportedly in line with Ratan Tata’s philosophy to go ahead and ensure continuity in leadership without any delay.
67-year-old Noel Tata has been a trustee of Sir Dorabji Tata Trust and Sir Ratan Tata Trust, which owns a majority stake in Tata Sons. His long-standing association with the Tata Group and his role in these trusts made him the frontrunner for the presidency after Ratan Tata’s death.
The Parsi community, traditionally closely associated with the Tata group, was in Favour of appointing someone with a Tata surname, and Noel Tata was the unanimous choice. His calm and unambiguous leadership style contrasts with the more articulate and public view of his late half-brother Ratan Tata.
Noel Tata has been a key figure in the Tata Group for over 40 years. He is currently on the boards of several Tata group companies, including Tata International Limited, Voltas and Tata Investment Corporation. He is also serving as vice chairman of Tata Steel and Titan Company Limited.