NEW DELHI: Noel Naval Tata on Friday said he was “deeply honoured and humbled” after being appointed the chairman of Tata Trusts, succeeding his half-brother Ratan Tata, who passed away on Wednesday at the age of 86.
In a statement released on Friday, Tata Trusts said it was “unanimously decided to appoint Noel Naval Tata as the Chairman of the various Trusts that constitute the Tata Trusts and also designate him as Chairman, Tata Trusts.His appointment comes into place effective immediately”.
“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 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,” said Noel Tata after his appointment.
Noel, 67, will be the 11th chairman of Sir Dorabji Tata Trust and the sixth chairman of Sir Ratan Tata Trust.
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.
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 the son of Naval H Tata and Simone N Tata.
He is a Trustee on the Boards of the Sir Ratan Tata Trust and the Sir Dorabji Tata Trust.
According to the Tata Trusts website, Noel’s children, Maya, Neville, and Leah, are also engaged in the family’s charitable activities, serving as trustees of various charities associated with the Tata Trusts.
Noel Tata educational background
Noel Tata attended prominent universities both in India and overseas.
Noel Tata holds a degree from Sussex University in the United Kingdom and has completed the International Executive Programme (IEP) at INSEAD.
Noel Tata leadership background
Noel 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 has served as Chairman of Trent Ltd, the Tata Group’s successful apparel retailer, since 2014. During his tenure, Trent’s shares have surged by over 6,000% in the past decade, making it one of the most prosperous Tata companies in recent years. Under his leadership, the company has expanded its store network and workforce, even as competitors have scaled back their operations.
Before his position at Trent, Noel was the head of Tata International Ltd from 2010 to 2021. During his time there, the commodity trading company’s revenue grew from $500 million to more than $3 billion.
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.
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.