Ratan Tata’s half-brother gained indirect leadership of the $165 billion conglomerate on Friday when he was named chairman of the Tata group’s strong and important charity arm.
\nFollowing the passing of Ratan Tata, one of India’s most well-known business titans, this week, Tata Trusts announced that Noel Tata, 67, will take over as its next chairman. According to one Tata official, the decision was made because “many old-timers” in the organisation wanted him to be in charge of the business.<\/p>\n
Over the years, the parent company, Tata Sons, has grown into a global powerhouse, managing 30 businesses in the consumer goods, hotel, automotive, and aviation industries. Its stable includes names like Tetley Tea and Jaguar Land Rover.<\/p>\n
According to corporate executives, Tata Trusts owns 66% of Tata Sons, giving it influence over significant investments, charitable contributions, and strategic choices made by the conglomerate.<\/p>\n
Half French, Noel Tata was already one of the numerous trustees of the charity arm. He was also chairman of Tata’s well-known retail apparel brand Trent and vice chairman of Tata Steel.<\/p>\n
“Noel is familiar with the operations of Tata firms. Many people wondered how Tata will compete with the major merchants in the retail industry. Sanjay Singh, a retired Tata Sons executive, stated, “Noel has demonstrated it.” Singh retired in 2019.<\/p>\n
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