Delhi– Noel Tata, the half-brother of the late Ratan Tata, has been appointed as the new chairman of Tata Trusts, the philanthropic arm of India’s $165 billion Tata group.
he announcement was made on Friday, shortly after the great Indian businessman Ratan Tata breathed his last. With a majority 66% stake in Tata Sons, the group holding company, Tata Trusts occupies a pivotal position in channeling the conglomerate’s strategy, its investments, and its philanthropic programs.
The appointment of Noel Tata, 67, was reportedly supported by “many old-timers” within the group who wanted him to lead the influential charity arm. “Noel is well versed with how Tata businesses are run,” said Sanjay Singh, a former Tata Sons executive who retired in 2019. “In retail, many people thought how will Tata compete with the big retailers. Noel has shown it. He has kept a low profile, so the outer world doesn’t know him well, but he is quintessential Tata,” he added.
Noel Tata, who is half-French, has been a long-time trustee of Tata Trusts, and has been involved in a number of group initiatives, including vice chairman of Tata Steel and also chairman of its retail fashion brand Trent. He would also be in a powerful position to nominate directors on the Tata Sons board as also key personnel at the group companies.
Tata Sons, the group’s parent company, oversees a diverse portfolio of 30 companies spanning sectors such as consumer goods, hotels, automobiles, and aviation. Notable brands under its umbrella include Jaguar Land Rover, Tata Consultancy Services, Taj Hotels, and Air India. The group has also forged partnerships with prominent global firms like Starbucks and Airbus in India.
While Tata Sons is not compelled to seek advice or guidance from the philanthropic arm, it’s an “unsaid understanding” that there is consultation between leadership on both sides, the first executive added as per the reports on Reuters.