Tata Trusts ropes in Cyrus Mistry's cousin Mehli Mistry as trustee on board

Photographer: Dhiraj Singh/Bloomberg

Tata Trusts has inducted Cyrus Mistry's cousin Mehli Mistry as a trustee on board of Sir Ratan Tata Trust and Sir Dorabji Tata Trust, according to The Economic Times, as part of its ongoing corporate governance strengthening exercise.

The inclusion takes place even as Tata Trusts announced the retirement of its first professional CEO Srinath Narasimhan, 60, who was appointed in 2020. A search for the next CEO is on and both internal and external candidates are being looked at, the report added.

Also Read: Cyrus Mistry | A business leader with a global outlook, but strong local moorings

''The appointments are part of Ratan Tata’s larger objective to ensure that critical causes are pursued by the trusts in areas such as malnutrition, cancer treatment, sanitisation and education. He has been making it very clear that goals must be bigger and impactful and that energies cannot be wasted on smaller projects," a source told ET.

About 66 per cent of the equity capital of group holding company Tata Sons is with the philanthropic trusts.

Former Tata group chairman Cyrus Mistry had died in a road accident on September 4. The accident occurred at Charoti in Palghar when his Mercedes was returning from Ahmedabad to Mumbai.