National Desk
11 October
Sandeep Dhand Ludhiana
Noel Tata, the 67-year-old step-brother of the late industrialist Ratan Tata, has been selected as the next chairman of Tata Trusts. The decision was made by the board of Tata Trusts, which oversees key trusts such as Sir Ratan Tata Trust and Sir Dorabji Tata Trust, where Noel is already a trustee.
Noel Tata, with a 66% stake in Tata Sons, was seen as the frontrunner to succeed Ratan Tata, who passed away recently at the age of 86. Speculation had also surrounded Mehli Mistry, a long-time trusted associate of Ratan Tata, who is being considered for a permanent trusteeship role within Tata Trusts.
Noel Tata has been part of the Tata Group since 1999 and is currently the chairman of the retail company Trent, which operates well-known chains like Westside and Zudio. Trent has a market capitalization of over Rs 2 lakh crore. Noel also chairs Voltas and Tata International, adding to his extensive experience in the Tata Group’s leadership.
The announcement of Noel Tata’s appointment follows the passing of Ratan Tata, and it marks the beginning of a new era for Tata Trusts under Noel’s leadership.