Noel Tata appointed new chairman of Tata Trusts

The board met on Friday and unanimously appointed the half-brother of Ratan Tata as chairman of all the trusts that constitute the Tata Trusts

Naandika Tripathi
Published: Oct 11, 2024 04:46:34 PM IST
Updated: Oct 11, 2024 05:56:07 PM IST

Noel Tata will succeed Ratan Naval Tata as chairman of Tata Trusts. Image: Amit VermaNoel Tata will succeed Ratan Naval Tata as chairman of Tata Trusts. Image: Amit Verma

Noel Naval Tata will succeed Ratan Naval Tata as chairman of Tata Trusts, the philanthropic entities that own the holding company of the Tata group companies. The trustees of various trusts that comprise the Tata Trusts met at a joint meeting held in Mumbai on Friday, October 11. It was unanimously decided to appoint Noel Tata as chairman of the trusts that constitute the Tata Trusts, and also designate him as chairman of the Tata Trusts.

“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 Mr 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, chairman, Tata Trusts, said in a statement.

Noel Tata, also the chairman of Tata Group's apparel retail business, Trent, gained widespread recognition as a potential candidate following Ratan Tata's retirement announcement. At 68, his appointment will align with the preference within the Parsi community for a family member to head the trusts.

Son of Simone Dumoyer, founder of Lakme and Naval H Tata, Noel Tata is said to be a mirror image of Ratan Tata in style and manner—seen as extremely approachable within the group and outside it—and has the ability to hold on to key people.

Noel Tata has been the only Tata (apart from Ratan Tata) in the Tata group. Ratan Tata’s younger brother by two years, Jimmy Tata had worked in various Tata companies; he retired in the 90s. He is also the son-in-law of Pallonji Mistry, who owns roughly 18 percent of Tata Sons.

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Noel Tata's involvement with the Tata Trusts began in 2019 when he joined as a trustee of the Sir Ratan Tata Trust, followed by his appointment to the board of the Sir Dorabji Tata Trust in 2022. His entry into these roles was interpreted by many as a step towards ensuring continuity in the leadership of Tata Trusts. Among all the trusts, Noel Tata has become the 11th chairman of the Sir Dorabji Tata Trust and the sixth chairman of the Sir Ratan Tata Trust, carrying forward a tradition that has often seen Parsis at the helm.

Recently, Noel Tata’s children, Leah, Maya and Neville were inducted as trustees of five prominent trusts, including affiliates of the Sir Dorabji Tata Trust and Sir Ratan Tata Trust. These trusts, which manage both the charitable and significant financial interests of the Tata group, are responsible for overseeing the group’s vast stake in Tata Sons. This makes their role within the trusts not just symbolic but also essential to shaping the group’s future governance.

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