11 October, 2024;Noel Tata has been appointed as the chairman of Tata Trusts, the philanthropic arm of Tata Group, following the passing of his half-brother, Ratan Tata, at the age of 86 earlier this week, as reported by ET Now.
With this appointment, Noel becomes the 11th chairman of the Sir Dorabji Tata Trust and the sixth chairman of the Sir Ratan Tata Trust.
He is the son of Naval H. Tata and Simone N. Tata, and the half-brother of Ratan Tata.
Noel Tata had already served as a trustee for both the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, which together hold a substantial 66% stake in Tata Sons, the holding company for the Tata Group.
Following Ratan Tata’s death, there was heightened attention on the leadership of the Trusts. As India’s largest public charitable foundation, the boards of Tata Trusts needed to appoint a new chairman from the existing trustees, as Ratan Tata had not designated a successor.
The Trusts’ ownership is particularly significant, with investments across industries such as aviation and automobiles. Noel Tata’s appointment as chairman is expected to be well-received by stakeholders, ensuring that a member of the Tata family continues to lead the philanthropic organization, which donated approximately $56 million (Rs 470 crore) in FY23.
