The trustees of various trusts that comprise the Tata Trusts met at a joint meeting held in Mumbai today and unanimously decided to appoint Noel Naval Tata as the chairman of Tata Trusts.
Noel’s appointment comes into place effective immediately.
“I am deeply honoured and humbled by the responsibility that has been cast on me by my fellow trustees. I look forward to carrying on the legacy of Mr. Ratan N. Tata and the founders of the Tata Group,” says Noel Tata.
Founded more than a century ago, the Tata Trusts are a unique vehicle for undertaking social good, he says. “On this solemn occasion, we rededicate ourselves to carrying on our developmental and philanthropic initiatives and continuing to play our part in nation building,” Noel adds.
The trustees of Tata Trusts condoled the demise of Ratan N. Tata and recalled his yeoman services not only to the Tata Group but also to nation building.
Noel is the step-brother of Ratan Tata who passed away on October 9 at the age of 86.
Philanthropic Tata Trusts hold 66% stake in Tata Sons, the holding company of Tata Group firms.
Noel Tata's appointment as chairman holds particular significance because Tata Trusts play a pivotal role in overseeing the various companies under the more than 150-year-old Tata brand.
Noel Tata is already the chairman of Tata Trent and Tata Investment Corporation, managing director of Tata International, vice chairman of Titan Company and Tata Steel. Additionally, he has served as a trustee for the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust since 2022, which together hold a majority stake in Tata Sons.
In 2022, Noel Tata's three children—Leah, Neville, and Maya—were appointed to the board of the Tata Medical Centre Trust to be groomed for future leadership roles within the group. The family has long been integral to the governance of the company, with Noel Tata himself serving as a trustee for multiple Tata Trusts and leading Trent and Tata Investment Corporation.
