Virendra Pandit
New Delhi: Noel Tata, 67, a Trustee on the Boards of Sir Ratan Tata Trust and Sir Dorabji Tata Trust, will step into the giant shoes of his illustrious half-brother, Ratan Tata, 86, who breathed his last late on Wednesday.
His appointment as Chairman of Tata Trusts came after Ratan Tata’s death due to age-related health conditions. The Board of Tata Trusts, the Group’s philanthropic arm, unanimously elected Noel as Chairman on Friday, the media reported.
While Ratan was the son of Naval Tata from his first marriage, Noel is his sibling from his second marriage.
Prime Minister Narendra Modi on Thursday spoke to Noel Tata, who oversaw the arrangements for the last rites of his step-brother, indicating the succession plan, and expressed condolences on the passing away of his sibling.
Until now, Noel was the Vice-Chairman of watchmaker Titan and Tata Steel, and Chairman of Tata Group’s retail company Trent (the owner of Zudio and Westside), and its NBFC firm Tata Investment Corp. Noel also served on the board of Voltas.
He has been the Managing Director of Tata International, where he began his career. It was after this appointment in 2010-11 that the speculation started that Noel was being groomed to succeed Ratan Tata as the head of the Tata group.
His last executive assignment was as the Managing Director of Tata International Ltd, the trading and distribution arm of the Tata Group, from August 2010 to November 2021. He had overseen the growth of the company from a turnover of USD 500 million to over USD 3 billion.
Noel will take over as Chairman of Tata Trusts. He has been with the Tata Group for over four decades, rising through the ranks in the salt-to-software conglomerate with a market valuation of nearly USD 100 billion.
He has so far functioned mostly under the shadows of his towering half-brother and will now have the responsibility of leading the Tata Trusts—broadly comprising Sir Ratan Tata Trust & Allied Trusts, and Sir Dorabji Tata Trust & Allied Trusts—that hold a controlling 66 percent stake in Tata Sons, the holding and promoter firm of Tata Group companies.
Son of Naval H. Tata and Simone N. Tata, Noel Tata served on the boards of various Tata Group companies.
His last executive assignment was as the Managing Director of Tata International Ltd, the trading and distribution arm of the Tata Group, from August 2010 to November 2021. He had overseen the growth of the company from a turnover of USD 500 million to over USD 3 billion.
Before his stint at Tata International, Noel Tata served as the Managing Director of Trent Ltd, Tata group’s retail arm. He played a pivotal role in the growth of Trent across formats, from a one-store operation in 1998 to over 700 stores now.
A graduate of Sussex University (UK), Noel completed the International Executive Programme (IEP) from INSEAD, France, which is among the top business schools in the world.
According to reports, he is an Indian-born Irish citizen, a result of his family’s global connections, but his identity and work remain firmly tied to India.
Noel Tata is married to Aloo Mistry, daughter of the late Pallonji Mistry, who was once the largest individual shareholder in Tata Sons. Noel and Aloo have three children: Maya, Neville, and Leah, who are gradually becoming involved in the Tata Group, contributing to the family’s legacy.
Leah, 39, serves on the Tata Education Trust, Tata Social Welfare Trust, and Sarvajanik Trust. Maya, 36, serves on the RD Tata Trust, as well as the Tata Education Trust and Sarvajanik Trust, while Neville, 32, was named to the board of the Tata Indian Institute of Skills (TIIS).