Mumbai, 11 October, 2024: Noel Tata, the half-brother of the late Ratan Tata, has been appointed the next Chairman of Tata Trusts, sources confirmed Friday. The 67-year-old was selected by the board to lead the philanthropic trusts overseeing the Tata empire.
Noel will assume responsibility for the Tata Trusts, which include the Sir Ratan Tata Trust and Allied Trusts, as well as the Sir Dorabji Tata Trust and Allied Trusts. Together, these trusts hold a controlling 66 percent stake in Tata Sons, the holding and promoter company for Tata Group entities.
Previously, Noel served as a trustee on the boards of both the Sir Ratan Tata Trust and the Sir Dorabji Tata Trust. Known for maintaining a low profile, he was present at Ratan Tata’s cremation on Thursday.
The Tata Trusts board convened to select Ratan Tata’s successor following his passing on Wednesday, with a formal announcement regarding the new chair expected later in the day.
Noel has been associated with the Tata Group since 1999 and currently chairs Trent, the successful retail arm responsible for brands such as Westside and Zudio, which boasts a market capitalization exceeding ₹2 lakh crore. He also serves as chairman of Voltas and Tata International.
Noel is married to Aloo Mistry, sister of the late Cyrus Mistry, and a member of the Shapoorji Pallonji family, which holds more than 18.4 percent of Tata Sons, making it the largest private shareholder. Relations between the Shapoorji Pallonji group and the Tatas have been strained since Cyrus Mistry’s removal as chairman of Tata Sons.
Tata Sons oversees all commercial operations within the group, which collectively reported revenues of $165 billion last year
(With PTI Inputs)
