Noel Tata, Ratan Tata’s half-brother and vice chairman of Tata Steel and watch company Titan, has been appointed as the chairman of Tata Trusts, confirmed by a source to NDTV Profit. The lesser-known Tata’s titular boost comes after chairman emeritus of Tata Sons, Ratan Tata died on October 9.
On October 10, India mourned his loss as heads of state, athletes, and business leaders took to social media to pay tribute to India’s “modest tycoon.”
— Tata Group (@TataCompanies) October 9, 2024
A source told NDTV Profit that Noel Tata has been “groomed over the years to take over.” The Tata Steel vice chairman is understood to have a majority consent and has been instrumental to Tata Group’s growth story since the early 2000s.
A meeting was held between the Sir Ratan Tata Trust and the Dorabji Tata Trust stakeholders, and sources indicate that both are likely to appoint Noel Tata to the position previously held by the esteemed industrialist.
Tata Sons is primarily owned by two trusts, the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, which cumulatively own 50% of the venture.
Venu Srinivasan, Vijay Singh, and Mehli Mistry currently act as executive committee members for the Tata Trust.
