Reports suggested that a meeting of the board was held to choose the successor to Ratan Tata after his demise on Wednesday.
Noel Tata
Noel Tata, the chairman of Tata Trent and vice chairman of Tata Steel, has been appointed as the chairman of Tata Trusts. He succeeds his half-brother late Ratan Tata, reports said Friday.
Reports suggested that a meeting of the board was held to choose the successor to Ratan Tata after his demise on Wednesday.
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The appointment is of great significance since Tata Trusts owns 66 per cent of Tata Sons. Also, the Tata Sons Pvt Ltd is the main private holding company for all the other various Tata companies.
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Currently, Noel Tata is the trustee on the board of two other trusts including the Sir Ratan Tata Trust and Sir Dorabji Tata Trust.
He is also the trustee on board of Sir Ratan Tata Trust and Sir Dorabji Tata Trust.
As Chairman of Tata International, Noel oversees the group’s global business, including its presence in retail through Tata Trent, a unit of Tata Sons Ltd.
Tata Trent has undergone a remarkable transformation, with brands like Zudio.
Aged 67, Noel Tata, is the son of Naval Tata and Simone Tata. He is brother-in-law of the late Cyrus Mistry, and is married to Aloo Mistry, daughter of Pallonji Mistry, the largest individual shareholder in Tata Sons.
Ratan Tata was the last individual to wear two hats – chairman of Tata Trusts and chairman emeritus of Tata Sons. This changed in 2022, when the Tata Sons board unanimously amended its Articles of Association (AoA) to ensure that the same person cannot hold both the positions.
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