Mumbai : Noel Tata was appointed Chairman of Tata Trusts, the philanthropic arm of the Tata group, on October 11. He succeeds his half-brother, Ratan Tata, who passed away two days earlier at the age of 86. The appointment is effective immediately.
In a statement, Tata Trusts said, “The Trustees of various Trusts that comprise Tata Trusts met at a joint meeting held in Mumbai today. They expressed their condolences over the passing of Ratan N. Tata, Chairman of Tata Trusts, and remembered his invaluable contributions not only to the Tata Group but also to nation-building. In subsequent meetings held immediately after, it was unanimously decided to appoint Noel Naval Tata as the Chairman of the various Trusts that constitute Tata Trusts and designate him as Chairman of Tata Trusts. His appointment takes effect immediately.”
Ratan Tata, who never married and had no children, did not name a successor at Tata Trusts. Noel’s appointment is significant as Tata Trusts owns a 66% stake in Tata Sons, the holding company for various firms under the Tata brand, which has a legacy spanning over 150 years.
