Noel Tata, the half-brother of Ratan Tata, has been appointed the new chairman of Tata Trusts, the country's largest charitable organisation that controls the diversified Tata Group. His appointment follows the death of Ratan Tata late on Wednesday night.
Trustees of the various Tata Trusts met at a joint meeting in Mumbai on Friday. The trustees condoled the demise of Ratan Tata, recalling his yeoman services not only to the Tata Group, but also towards nation building.
In separate meetings, it was unanimously decided to appoint Noel Naval Tata as the chairman of Tata Trusts and the various trusts that constitute the Tata Trusts.
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Reacting to his appointment, Noel said he was "deeply honoured and humbled" by the responsibility that had been cast on him and that he looked forward to carrying on the legacy of Ratan Tata and the founders of the Tata Group.
"Founded more than a century ago, the Tata Trusts are a unique vehicle for undertaking social good. On this solemn occasion, we rededicate ourselves to carrying on our developmental and philanthropic initiatives and contributing to play our part in nation-building," he said.
Sir Ratan Tata Trust and Sir Dorabji Tata Trust are the two main trusts that make the Tata Trusts, which carry out philanthropic activities in healthcare, nutrition, education, livelihood, environment, migration, skill development, sports, and disaster relief, among other things.
The two trusts further comprise several foundations. For instance, the Sir Ratan Tata Trust's allied trusts include Navajbai Ratan Tata Trust, Tata Education and Development Trust, Bai Hirabai J.N. Tata Navsari Charitable Foundation, and Sarvajanik Seva Trust. The Sir Dorabji Tata Trust includes the JN Endowment for the Higher Education of Indians, JRD Tata Trust, Jamsetji Tata Trust and four others.
TVS Group's Venu Srinivasan and former defence secretary Vijay Singh are currently the vice-chairmen of Tata Trusts.
Tata Trusts hold a 66 per cent stake in Tata Sons, the holding company of Tata Group and has wielded a lot of influence over the aviation to software and consumer goods conglomerate over the years. In 2022-23, the trusts distributed around $56 million in grants.
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Historically someone from the Tata family or at least a Parsi has headed the trusts. The appointment of 67-year-old Noel Tata will thus go well among the Parsi community.
Noel has been a trustee on the board of Sir Ratan Tata Trust since 2019 and Dorabji Tata Trust since 2022. Therefore, his appointment in a way will signal the continuity of the service and the legacy that Tata Group founders have built over decades at the philanthropies.
Noel also brings deep experience of being associated with various Tata companies over decades, which will be an advantage. While he remains the chairman of Tata Group's retail arm Trent, he is also the chairman of Tata International, Voltas, and Tata Investment Corporation and is the vice-chairman of Titan and Tata Steel.
Noel graduated from Sussex University in the UK and has completed the International Executive Programme from INSEAD and has generally maintained a low profile over the years, compared with Ratan Tata. Trent shares have been among the top performers within the Tata Group and now command a market cap of close to Rs 2.93 lakh crore.
Noel has three children - Maya, Neville and Leah who are also associated with the Tata Group in various roles. Neville heads the group's supermarket chain Star Bazaar. Leah is a vice-president at Indian Hotels, the group's luxury hotel chain and Maya works at Tata Digital.
Noel brings with him a wealth of experience, having successfully led international operations within the Tata Group, said corporate and legal advisor Akshat Khetan.
"His global perspective, coupled with a deep understanding of the values that define the Tata brand, positions him well to continue the legacy of nation-building and community welfare established by his predecessors," he said.
However, Noel faces several challenges as he steps into this pivotal role, said Khetan.
Ratan Tata’s passing leaves a significant vacuum, not only in terms of leadership but also the immense moral authority and personal connections he brought to the institution, he felt.
"In the coming years, one of his key tasks will be to ensure that the Trust continues to expand its impact, both in India and globally, while addressing emerging challenges such as climate change, social inequality, and digital transformation," Khetan added.
