Mumbai: Ratan Tata’s death has led to a search for the next head of Tata group of institutions including Tata Trusts which holds a decisive stake in the Tata Group of companies. Noel Tata, Ratan’s half brother, is the frontrunner to suceed the deceased octagenarian as the chairman of Tata Trusts.
Currently, Noel is named as a trustee of Sir Dorabji Tata Trust and Sir Ratan Tata Trust. Together, these entities hold a 66 per cent stake in Tata Sons, the holding company of the salt-to-software conglomerate. Tata Trusts has 2 vice chairmen in TVS’ Venu Srinivasan and former defence secretary Vijay Singh.
There is a broad consensus among the Parsi community to name an individual with a Tata surname as chairman of Tata Trusts, the ET reported, citing people familiar with the matter.
Who is Noel Tata?
Noel Tata, the half-brother of Ratan Tata, is the chairman of Tata International as well as Voltas and Tata Investment Corp. Noel also serves as the vice chairman of Tata Steel and Titan. He is on the board of directors if Tata group. Having been associated with the Tata group for more than 40 years now, Noel has kept a low profile with a focus on the group’s international business. Noel served as managing director of the group retail company Trent. He has 3 children, including son Neville as well as daughters Leah, and Maya.
All about Mehli Mistry
Mehli Mistry, a confidant of Ratan Tata, and a board member at Tata group 2 main charities is also in the reckoning to become the Tata Trusts chairman. Mehli is a cousin of former Tata Sons chairman Cyrus Mistry. A director of the M Pallonji Group, Mistry was inducted on the 2 charities’ board in 2022.
Ratan Tata cremated with full state honours
Industrialist Ratan Tata was cremated with full state honours in the presence of the country’s prominent politicians, celebrities and industrialists on Thursday. Tata died on Wednesday after he was admitted earlier in the day owing to age-related illnesses. He was 86 years old. Ratan Tata was cremated in Worli Crematorium. Union ministers Amit Shah and Piyush Goyal were in attendance along with Maharashtra chief minister Eknath Shinde. Maharashtra deput CM Devendra Fadnavis as well as former CM Sushilkumar Shinde were also in attendance.
Naval Tata, the half brother of Ratan Tata, and Mehli Mistry are expected to be in the race to become chairman of Tata Trusts. Ratan Tata was the last one to head both Tata Trusts and Tata Sons until 2022. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
