NEW DELHI: The half-brother of Ratan Tata was appointed on Friday (Oct 11) as the head of the powerful and influential philanthropic arm of India’s Tata group, giving him indirect control of the US$165 billion conglomerate.
Tata Trusts said Noel Tata, 67, will be its new chairman after the death this week of Ratan Tata, one of India’s best-known corporate titans. The decision followed “many old-timers” in the group wanting him to lead the venture, said one Tata executive.
The parent company, Tata Sons, oversees 30 firms across consumer goods, hotels, automobiles and airlines and has become a global juggernaut over the years, with brands such as Jaguar Land Rover and Tetley Tea in its stable.
It owns Tata Consultancy Services, Taj Hotels and Air India and counts Starbucks and Airbus as partners in India.
Tata Trusts has a 66 per cent ownership of Tata Sons, giving it power over big investment, philanthropic and strategic decisions by the conglomerate, company executives said.
Noel Tata, who is half-French, was already among the many trustees of the philanthropic arm, and also vice chairman of Tata Steel and chairman of Tata’s popular retail fashion brand Trent.
“Noel is well versed with how Tata businesses are run. In retail, many people thought how will Tata compete with the big retailers. Noel has shown it,” said Sanjay Singh, a former Tata Sons executive who retired in 2019.
“He has kept a low profile so the outer world doesn’t know him well, but he is quintessential Tata.”
Source: CNA
