Sixty seven years old step brother of late Ratan Naval Tata, Noel Tata has been named as the next chairman of Tata Trusts, a family trust and a philanthropic arm of Tata group , after the sad demise of 86 years old emeritus chairman who was cremated yesterday in Worli, Mumbai.
Noel Tata is the son of the second wife of his father Naval Tata after divorcing his first wife. The second wife of Naval Tata and the mother of step brother of Ratan Tata , Noel Tata who is now the chairman of Tata Trusts is from Switzerland.
The decision to appoint Noel Tata as the chairman of prestigious Tata Trusts was taken unanimously in a meeting when the trustees of various trusts met at a joint meeting in Mumbai this morning.
In the meeting the death of philanthropic icon was condoled and the speakers appreciated to the core the pioneering services of Ratan Tata not only for the entire TATA group but also for the nation building especially his immense contribution in fighting dreaded cancer by building cancer hospitals for the poor, hospital for the treatment of voiceless creatures and creating ample job opportunities for ten lakhs employees of TATA group including providing jobs to millions of others indirectly.
In a separate meeting thereafter the name of Neol Tata, the half brother of Ratan Tata was unanimously stamped for being the next chairman of the Tata Trusts who till now was handling other pivotal responsibilities in the TATA Group of Companies.
After being unanimously named as the chairman of Tata Trusts owning 66% shares of Ratan Tata , jubilant half brother of Ratan Tata, Noel Tata in a statement said : “I am deeply honoured and humbled by the responsibility that has been cast on me by my fellow trustees. I look forward to carrying on the legacy of Mr. Ratan N.
Tata and the Founders of the Tata Group. Founded more than a century ago, the Tata Trusts are a unique vehicle for undertaking social good. On this solemn occasion, we rededicate ourselves to carrying on our developmental and philanthropic initiatives and continuing to play our part in nation building.”
It may be recalled that Ratan Tata who served in Tata Group for 21 years as it Chairman has taken the Tata Group to new heights in India and abroad making it a most prestigious group including his philanthropic activities touching new heights building a veterinary five storeyed high profile hospital for voiceless animals in Mumbai and cancer hospitals at several locations in the country, was not married , therefore no children. He lived as a bachelor his whole life serving Tata Group first at its chairman for twenty one years and then as its chairman emeritus till he breathed his last.
Late Ratan Tata’s personel assets have been officially valued at Rs. 7,900 crores and Tata Trusts, a philanthropic arm of Tata group is worth 296 crores. Ratan Tata ranked 421 with an estimated net worth of Rs.3800 crores. Tata group is worth Rs 13 lakh crores of which late Ratan Tata had 66% share which will now be owned by Neol Tata.
Born in 1957 in Mumbai, India, Noel Tata studied at the Cathedral and John Connon School and later graduated from the University of Sussex in the UK. He started his career in the Tata Group in 1989 thereafter holding various positions, including Managing Director of Tata International and Trent Ltd. Due to his dedicated hard work he rose to Prominence starting in 2012 when he was appointed as the Managing Director of Trent Ltd, expanding its operations and acquiring new businesses. Noel Tata has been involved in various philanthropic activities, including the Tata Trusts’ initiatives in education, healthcare, and rural development. A married man , he tied up with Aloo Mistry, a member of the Mistry family, and has two children always keeping a low profile. Noel Tata is known for his understated leadership style, valuing collaboration and consensus-building, similar to his half-brother Ratan Tata. 8 As the likely successor, Noel Tata will face complexities of the Tata Group’s diverse businesses , sort of a king with theory crown, managing stakeholder expectations, and ensuring growth and profitability. Conclusively Noel Tata is a seasoned businessman with a deep understanding of the Tata Group’s operations and values. His appointment as the chairman of the Tata Trusts is likely to be seen as a smooth transition of power and a continuation of the group’s legacy. With his understated leadership style and commitment to philanthropy, Noel Tata is poised to lead the Tata Empire into a new era of growth and success.
