INSUBCONTINENT EXCLUSIVE:
announced less than 48 hours after the patriarch passed away on Wednesday night at the age of 86
Putting an end to all speculation around succession, 67-year-old Noel Naval Tata, half brother of Ratan Tata, has been named chairman of
the trustees of Tata Trusts here on Friday
Sources said there was no discussion on any other contender for the top post at Tata Trusts, which has a 66 per cent stake in Tata Sons, the
humbled by the responsibility that has been cast on me by my fellow trustees
have over Tata Sons and the group
daughter of late billionaire Pallonji Mistry whose family owns 18.4 per cent stake in Tata Sons, is not on the board of directors at Tata
in accordance with a special resolution passed in 2022 for better governance
According to that resolution passed by the board of Tata Sons, the chairman of Tata Sons and Tata Trusts cannot be the same person
N Chandrasekaran, 61, who was appointed chairman of Tata Sons in 2017, is into his second term in that role
also have a bearing on the strained relations between the Tatas and the Shapoorji Pallonji group, industry watchers pointed out
Ratan Tata and Cyrus Mistry, former chairman of Tata Sons and son of late Pallonji Mistry, were engaged in a contentious legal battle
following Mistry's removal as chairman of Tata Sons in October 2016
The dispute ended in 2021 when the Supreme Court ruled in favour of the Tatas, affirming that Mistry's removal was legal
chairman of Tata Trusts is anticipated to improve relations between the two families
Retail major Trent, which is chaired by Noel, has seen a sharp jump of 6000 per cent in its share prices in a decade as the company expanded
across India riding the wave of consumption
Going forward, his children Leah, Maya and Neville should also be inducted on the main Tata Trusts," he said.
At present, TVS group
Chairman Emeritus Venu Srinivasan, and Vijay Singh, a former bureaucrat, represent the Trusts on Tata Sons board
2024, Tata Trusts received its highest ever dividend of Rs 933.4 crore from Tata Sons, more than double of Rs 466.7 crore in FY23
The trusts allocate their dividend income to various charitable initiatives, including healthcare, water access, rural development, and
According to the Tata Trusts' 2023 annual report, the Trusts distributed 48.5 per cent of their funds for healthcare, 16.9 per cent for
rural upliftment, and 16.5 per cent for education
Another 10.4 per cent of the funds were allocated to institutions and rest for water, urban poverty alleviation and energy.
The Tata
group is interestingly positioned at this point, investing billions in more recent ventures, including semiconductors, airlines, e-commerce
and financial services.
Founded in 1892 by Tata group founder, Jamsetji Tata, Tata Trusts has spent heavily in the fields of education,
Of the 66 per cent stake in Tata Sons, the two major trusts--Sir Dorabji Tata Trust and Sir Ratan Tata Trust own 27.98 per cent and 23.56
A long distance away is the third largest trust--JRD Tata Trust--which controls 4.01 per cent in Tata Sons
Others hold much lower stake--RD Tata Trust at 2.19 per cent, Tata Education Trust 3.73 per cent and Tata Welfare Social Trust also 3.73 per
cent.First Published: Oct 11 2024 | 6:30 PMIST
