DBT Bureau
Bengaluru, 11 October 2024
In a much-anticipated move, Noel Tata has been appointed as the chairman of Tata Trusts, Tata group’s philanthropic arm, succeeding his half-brother Ratan Tata after his demise.
“The Trustees of various Trusts that comprise the Tata Trusts met at a joint meeting held in Mumbai today. They condoled the demise of Ratan N. Tata, Chairman, Tata Trusts, and recalled his yeoman services not only to the Tata Group but also to nation building. In separate meetings held immediately, thereafter, it was unanimously decided to appoint Noel Naval Tata as the Chairman of the various Trusts that constitute the Tata Trusts and also designate him as Chairman, Tata Trusts. His appointment comes into place effective immediately,” Tata Trusts said in a statement.
Tata Trusts owns 66% of Tata Sons, the holding company of various firms under the Tata brand. Noel Tata’s appointment is likely to signal continuity at India’s biggest philanthropic trust in which he is already a trustee.
“I am deeply honoured and humbled by the responsibility that has been cast on me by my fellow Trustees. I look forward to carrying on the legacy of Ratan N Tata and the founders of the Tata Group. Founded more than a century ago, the Tata Trusts are a unique vehicle for undertaking social good. On this solemn occasion, we rededicate ourselves to carrying on our developmental and philanthropic initiatives and continuing to play our part in nation building,” Noel Tata said in his reaction to the appointment as Tata Trusts chairman.
Noel Tata has been heading Tata Trent, which is Tata Group’s apparel brand. The company has seen sound growth under Noel Tata’s leadership.
He has also been at the boards of Tata Steel and Voltas Ltd. Under his leadership, the conglomerate is likely to reach new heights.
