On October 11, Noel Tata was appointed chairman of Tata Trusts. According to CNBC TV18, after the tragic death of his half-brother Ratan Tata, the decision was made unanimously during a meeting held in Mumbai. Noel Tata is 67 years old and is the son of Naval Tata and Simone Tata. Naval Tata was also Ratan Tata’s father. Noel is already on the boards of important trusts like the Sir Ratan Tata Trust and the Sir Dorabji Tata Trust. Read to know more.
Noel Tata Appointed As New Tata Group Chairman
Since 2014, Noel Tata has served as the chairman of Trent Ltd., which is the Tata Group’s highly successful clothing retailer. Under his leadership, the company’s shares have increased by more than 6,000% over the past ten years. Before this, Noel led Tata International Ltd. from 2010 to 2021. During his time there, the revenue of the commodity trading company grew significantly, rising from $500 million to over $3 billion.
Furthermore, corporate lawyer HP Ranina stated that the Tata Trusts made a wise decision in choosing Noel Tata, which will be beneficial for the entire organization. He expressed confidence that there will be ‘total continuity and harmony’ and that the best days for the Tata Group are still ahead. Since Ratan Tata never married, he had no children and did not name a successor for Tata Trusts. Hence, the choice to appoint Noel Tata as chairman was made with Ratan Tata’s philosophy of ‘moving on’ in mind.