Noel Tata Appointed Chairman of Tata Trusts

NEW DELHI: Noel Tata, aged 67, has been appointed as the chairman of Tata Trusts following the passing of Ratan Tata, according to a report by CNBC. Noel is the son of Naval H. Tata and Simone N. Tata and has held various prominent roles within the Tata Group, including the chairmanship of Trent and Voltas. His career in the Tata Group spans over four decades during which he has steered multiple companies to success.

Noel Tata’s appointment comes after Ratan Tata, one of India’s most respected business figures, passed away at the age of 86. Noel assumes the position of the 11th chairman of the Sir Dorabji Tata Trust and the sixth chairman of the Sir Ratan Tata Trust. His new role is particularly significant as Tata Trusts hold a 66% stake in Tata Sons, the parent company of numerous Tata brands spread across various industries.

According to the Executive Program at INSEAD and Sussex University graduate, Noel Tata, Tata Trusts were founded back in 1892 by Jamsetji Tata, the great grandfather of both Noel and Ratan Tata. This entity has played a pivotal role in managing both the philanthropic and corporate wings of the Tata empire, which continues to have significant global presence.

Under Noel’s leadership, Trent Ltd, a major apparel retailer within the Tata Group, has seen its share price surge dramatically by over 6,000% in the past ten years. His tenure saw expansion of both the company’s store network and its workforce. Previously, Noel headed Tata International Ltd, where he successfully increased its revenue from $500 million to over $3 billion.

The recent appointment of Noel Tata has also impacted the stock market positively. Stocks of Tata Investment Corporation, Trent, and Rallis India among others experienced a notable rise after the announcement of his new role. These stock movements reflect investor confidence in Noel’s leadership and the stability it promises to bring to the Tata Group.

The board of Tata Trusts convened on Friday to approve Noel Tata’s new role. An anonymous executive stated, “Today, there was a condolence meeting, after which the board of Tata Trusts approved the name of Noel Tata who succeeds Mr Tata.” This transition at Tata Trusts marks a new era for the century-old conglomerate as it continues to evolve in the global market under Noel’s guidance.