Ratan Tata’s half brother to guide the $165 billion conglomerate.
Noel Naval Tata has been named the successor of Ratan Tata at Tata Trusts, the majority owner of Tata Sons, the holding company of the Tata group. Tata Sons, oversees 30 firms across consumer goods, hotels, automobiles and airlines including brands like Jaguar Land Rover and Tetley Tea. It also owns Tata Consultancy Services, Taj Hotels and Air India and has Starbucks and Airbus as partners. Tata Trusts has a 66% ownership of Tata Sons, giving it power over big investment, philanthropic and strategic decisions by the conglomerate, company executives say.
In a statement issued on Friday, Tata Trusts said, “The trustees of various Trusts that comprise the Tata Trusts met at a joint meeting held in Mumbai today. They condoled the demise of Mr Ratan N Tata, Chairman, Tata Trusts, and recalled his yeoman services not only to the Tata Group but also to nation building. In separate meetings held immediately thereafter, it was unanimously decided to appoint Mr. Noel Naval Tata as the Chairman of the various Trusts that constitute the Tata Trusts and also designate him as Chairman, Tata Trusts. His appointment comes into effect immediately.”
Noel Naval Tata, 67, is the son of Naval Tata and Simone Tata and is married to Cyrus Mistry’s sister Aloo Mistry. He has successfully run companies like Trent, Tata Investment Corporation and Tata International. He will now guide the $165 billion conglomerate.
