New Delhi: The new chairman of Tata Trusts, which holds 66% stake in Tata Sons, the holding company of Tata Group, the country’s largest industrial house, has been announced. Noel Tata, step brother of late Ratan Tata, has been given this responsibility. Noel, 67, is already a trustee in Sir Dorabji Tata Trust and Sir Ratan Tata Trust. It was believed that he would be made the successor of Ratan Tata and the Trusts approved it today. Noel is known as a person who likes to do his work quietly, staying away from the limelight. Noel Tata was born in 1957 to Naval Tata and Simon Tata. He earned a bachelor’s degree from the University of Sussex in the UK and later attended the prestigious International Executive Program at INSEAD, one of the world’s top business schools, in France. He started his professional journey at Tata International in the Tata Group. This company looks after Tata’s business abroad. In June 1999, he was made MD of Tata Group’s retail company Trent. This company was originally founded by his mother Simone Tata.
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took Trent to great heights
The credit for taking Trent to great heights goes to Noel Tata. Today the market cap of this company is Rs 2,93,275.38 crore. This increased Noel’s influence and stature within the Tata Group. In 2003, he joined the boards of Titan Industries and Voltas. In 2010, he was appointed MD of Tata International. There was then speculation that he was being groomed to succeed Ratan Tata as the head of the Tata Group. But in 2011, the board of Tata Sons announced the appointment of Cyrus Mistry as the chairman of Tata Group. Cyrus Mistry’s sister Aloo Mistry is married to Noel Tata.
This decision surprised many people but Noel continued his work quietly. In 2016, Mistry was removed from the post of chairman and Ratan Tata returned as interim chairman for some time. Meanwhile, N Chandrasekaran was made the chairman of Tata Sons. Noel was appointed to the board of Sir Ratan Tata Trust in 2018. After the death of Ratan Tata, he has now been made the chairman of Tata Trusts. But he cannot become the chairman of Tata Sons.
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Family and Net Worth
The reason for this is that in the year 2022, the Tata Sons Board had unanimously amended its Articles of Association. According to this, the same person cannot hold these two posts. Ratan Tata was the last person to simultaneously hold the post of Chairman of Tata Trusts and Chairman Emeritus of Tata Sons. That means Noel Tata can no longer become the Chairman of Tata Sons. For this he will have to leave the post of Chairman of Tata Trusts.
Noel and Aloo have three children – Maya, Neville and Leah. Noel Tata’s son Neville Tata joined Trent in 2016 and recently took over as head of Star Bazaar. Noel Tata’s daughters are also involved in Tata Group companies. Leah Tata, 39, was recently given charge of the Gateway brand at Indian Hotels. 36 year old Maya Tata is interested in analytics and technology. She works in Tata Digital. According to media reports, Noel Tata’s net worth is $1.5 billion i.e. about Rs 12,455 crore.