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Last Updated : Dec 06, 2018 01:46 PM IST | Source: Moneycontrol.com

Noel Tata may be new Chairman of Tata Trusts

Noel Tata is currently the Chairman of Trent and Managing Director of Tata International

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Noel Tata may join Tata Trusts as the charitable organisation is looking to bring him on board as part of restructuring its composition, Business Standard reported.

Noel is currently the Chairman of Trent and Managing Director of Tata International.

There have been speculations that Noel, 61, is being groomed to succeed Ratan Tata as Chairman of the Tata Trusts, which commands a 66 percent stake in the $100 billion Tata conglomerate's holding company: Tata Sons.

Moneycontrol could not independently verify the report.

In 2011, Noel's brother-in-law Cyrus Mistry was named Chairman of Tata Sons and after he was removed from the position in 2016. At that time too, Noel's name surfaced as a top contender for the post. The company's search committee, however, picked N Chandrasekaran, then Tata Consultancy Services (TCS) CEO as Chairman of Tata Sons.

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Apart from fresh inductions, Tata Trust may also decide on a Vice Chairman soon, the report said. The organisation may consider members of Tata Sons and trustees for this position, sources told the paper.

Tata Sons and Tata Trusts have recently witnessed exits. In August, Harvard Business School's India-born Dean Nitin Nohria stepped down from the board of directors of Tata Sons. Amit Chandra, Bain Capital Managing Director, also stepped down from the boards of Tata Trusts and Tata Sons.

According to Tata Sons' Articles of Association (AoA), Tata Sons can have as many as 12 directors and Tata Trusts can nominate one-third of the directors to the company's board.

The entry of low-key Noel into Tata Trusts, if happens, would be widely watched, a source told the paper. In a bid to reinforce continuity and cohesion between Tata Sons and Trusts, N Chandrasekaran may be inducted as a trustee in future, sources added.
First Published on Dec 6, 2018 01:43 pm
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