Tata Trusts, the philanthropic entity, holds controlling stake in Tata Sons, the holding company and promoter of all Tata Group companies
Natarajan Chandrasekaran continues as Chairman of Tata Sons
Ratan Naval Tata’s half-brother Noel Naval Tata has been appointed his successor as chairman of the Tata Trusts, the philanthropic entity which holds a controlling 65.9% stake in Tata Sons, the holding company and promoter of all Tata Group companies.
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Another 12.87% stake in Tata Sons is held by a clutch of Tata Group companies, and 18.4% by the Mistry family.
Noel Naval Tata, who was already a trustee in some of the trusts under the Sir Ratan Tata and Allied Trusts and Sir Dorabji Tata Trust & Allied Trusts, which make up the Tata Trusts, is also currently holding several top-ranking positions within the Tata Group, including as chairman of Trent Ltd., Voltas, Tata International, and Tata Investment Corporation, as well as vice-chairman of Titan Company and Tata Steel.
Son of Naval H Tata and Simone Tata, Noel is married to Aloo Mistry, the daughter of Pallonji Mistry, one of the prominent stakeholders in Tata Sons.
Noel and Aloo have three children – Neville, Maya, and Leah – all of whom are members in some of these trusts and performing leadership roles in various Tata Group companies.
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Ratan Naval Tata, who died at the Breach Candy Hospital in Mumbai following a brief illness on October 9, had not named a successor for the leadership of Tata Trusts, which undertake charitable and philanthropic work in conjunction with a nationwide web of associate organisations and partners, in the fields of healthcare, education, rural upliftment, and more.
Consequent to this, the board of trustees of the Tata Trusts met in Mumbai on Friday morning and unanimously appointed Noel Naval Tata as Ratan Naval Tata’s successor. Key figures in this governance structure of Tata Trusts include former Defence Secretary Vijay Singh and TVS Motors’ Venu Srinivasan.
“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,” said a press release by Tata Trusts.
Noel Tata’s appointment is in line with the amendment made in the Articles of Association of Tata Sons by its board in 2022, whereby the same person could no longer hold the roles of Chairman of both Tata Trusts and Tata Sons, a position Ratan Tata had previously held.
Natarajan Chandrasekaran is the Chairman of Tata Sons, the holding company and promoter of all Tata Group companies, since January 2017. He also chairs the Boards of several group operating companies, including Tata Steel, Tata Motors, Tata Power, Air India, Tata Chemicals, Tata Consumer Products, Indian Hotel Company, and Tata Consultancy Services.
Having functioned mostly under the shadow of Ratan Tata since he joined the group two decades ago, it would be interesting to see how Noel naval Tata shapes the future of Tata Trusts and the group companies under his command.
