NEW DELHI: Noel Tata was appointed chairman of Tata Trusts on Friday, succeeding his half-brother Ratan Tata, who passed away on Wednesday at the age of 86, according to a CNBC report.
Noel’s appointment is significant because Tata Trusts holds a 66% stake in Tata Sons, the holding company of the numerous firms under the Tata brand, which has a legacy spanning over 150 years.
Late Ratan Tata, widely regarded as one of India’s most esteemed business leaders, played an important role in transforming the Tata empire into a diversified global conglomerate with a presence across multiple industries.
Who is Noel Tata?
Noel N Tata, Chairman and Non-Executive Director of Tata International Limited, has been with the Tata Group for four decades.
He is a Trustee on the Boards of the Sir Ratan Tata Trust and the Sir Dorabji Tata Trust.
He currently holds several key positions within the group, including Chairman of Trent, Voltas, and Tata Investment Corporation, and serves as Vice Chairman of Tata Steel and Titan Company Limited.
Noel Tata’s most recent executive role was as Managing Director of Tata International Limited, the Tata Group’s trading and distribution arm. From August 2010 to November 2021, he led the company’s growth, increasing its turnover from $500 million to over $3 billion.
Prior to this, he served as Managing Director of Trent Limited, where he was instrumental in expanding the company from a single store in 1998 to over 700 stores today.
Noel Tata holds a degree from Sussex University (UK) and has completed the International Executive Programme (IEP) at INSEAD.
The establishment of Tata Trusts can be traced back to 1892, when it was founded by Jamsetji Tata, the great grandfather of Noel and Ratan, several years after he laid the foundation of the Tata group.