Noel Naval Tata was Friday named the successor of Ratan Tata at Tata Trusts, the majority owner of Tata Sons, the holding company of the Tata group. He will now guide the $165 billion conglomerate at a time when the group faces several challenges globally and domestically.
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 (nee Simone Dunoyer), and is married to Cyrus Mistry’s sister Aloo Mistry.
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Tata group insiders say Noel maintains a low profile and is rarely seen at public events or corporate summits. Unlike his brother, Noel is not part of any policy-making forum of the government or regulatory bodies.
While he doesn’t have the stature and standing of Ratan Tata in the Indian industrial landscape, he has proved his mettle by successfully running companies like Trent, Tata Investment Corporation and Tata International. On Friday, Trent’s market capitalisation stood at Rs 2.92 lakh crore, the fourth largest after TCS, Tata Motors and Titan Company.
His role will be that of a guide, guard, and policy maker for the group. He can always step in when Tata Sons or group companies make wrong decisions, said a Tata watcher of many decades. “Just like Ratan Tata intervened when he realised that Cyrus Mistry was going in the wrong direction,” he said.
Noel Tata was always a strong contender to succeed the Tata legacy given his familial ties and involvement in many group companies. He is Ratan Tata’s half brother. Ratan Tata was born to Naval Tata and Soonoo Commissariat.
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Jimmy Tata, younger brother of Ratan Tata, is not involved in the family business and keeps out of the limelight. He was not seen as a contender, within the group and outside.
Following his appointment, Noel Tata said, “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. Founded more than a century ago, the Tata Trusts are a unique vehicle for undertaking social good. On this solemn occasion, we rededicate ourselves to carrying on our developmental and philanthropic initiatives and continuing to play our part in nation building.”
Ratan Tata had separated the roles of Chairman of Tata Sons and Tata Trusts to prevent the same person from heading both the institutions. As a result, current Tata Sons Chairman N Chandrasekaran was ruled out for the top post at Tata Trusts. Ratan Tata as Chairman of Tata Trusts and former Chairman of Tata Sons wielded considerable influence in the affairs of the Tata group.
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His brief is to protect legacy
Noel Tata may lack the stature of Ratan Tata in India’s industrial landscape, but he has proved his mettle by running companies such as Trent and Tata International. He has strong familial ties too. He is now expected to guide the $165 billion group .
Noel Tata is currently the chairman of Trent, Voltas, Tata Investment Corporation and Tata International. He is also the Vice Chairman of Tata Steel and Titan. Since he is also on the board of Sir Ratan Tata Trust, it gives him some advantage to become the Chairman of Tata Trusts which in turn controls Tata Sons.
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Noel Tata currently serves as a Trustee on the Board of Sir Ratan Tata Trust and Sir Dorabji Tata Trust. He was appointed a Non-Executive Director in Trent Ltd in August 2010 and thereafter as its Chairman in March 2014. Prior to that, he served as its Managing Director for more than 11 years where he had overseen the growth of Trent across formats.
Noel Tata was associated with Tata International Limited as the Managing director from August 2010 to November 2021, where he grew the company from a turnover of $ 500 million to over $ 3 billion.
The new Tata Trusts chief has been associated with the Tata Group for over 40 years. He currently serves on the board of various Tata Group companies, including as the Chairman of Tata International Limited, Voltas & Tata Investment Corporation and as the Vice Chairman of Tata Steel and Titan Company Limited.
Tata graduated from Sussex University (UK) and has completed the International Executive Programme (IEP) from INSEAD.