Ratan Tata's half-brother Noel appointed chairman of Tata Trusts
Noel Tata has been named the new chairman of Tata Trusts, replacing his half-brother Ratan Tata, who died on October 9 at the age of 86. The decision to appoint Noel was taken unanimously at a meeting in Mumbai today. The important appointment comes as Ratan didn't name a successor for the philanthropic arm of the Tata group. Tata Trusts governs the $165-billion software-to-supercars-to-salt conglomerate.
Noel's appointment and Tata Trusts's influence
Noel's appointment is especially significant considering Tata Trusts owns a whopping 66% stake in Tata Sons. The holding company manages several companies under the legendary Tata brand, which has a legacy of over 150 years. Corporate lawyer HP Ranina backed the decision to appoint Noel, predicting 'total continuity and harmony' within the organization under his leadership.
Noel's business acumen and leadership
Noel has a proven track record of successful leadership within the Tata group. Since 2014, he has served as the chairman of Trent Ltd., a highly successful apparel retailer whose shares have soared over 6,000% in the past decade. He previously led Tata International Ltd. from 2010 to 2021, during which time the firm's revenue leaped from $500 million to over $3 billion.
Noel's influence on Tata Group
Noel also sits on the boards of various listed Tata companies, including Tata Steel Ltd. and Voltas Ltd. His children — Maya, Neville, and Leah — are also trustees of some family-linked charities, according to the Tata Trusts website. Vallabh Bhanshali from Enam Holding praised Noel's leadership style, which has taken Trent to new heights while keeping a low profile.
