Noel Tata has been appointed chairman of Tata Trusts, the philanthropic arm of the Tata Group, following Ratan Tata’s passing on Wednesday night at Mumbai’s Breach Candy Hospital. Tata Trusts serves as the umbrella organisation overseeing the operations of all 14 Tata Trusts.
Speaking on his appointment, Noel Naval Tata, Chairman of Tata Trusts, said, “I am deeply honoured and humbled by the responsibility that has been cast on me by my fellow Trustees. I look forward to carrying on the legacy of Mr. Ratan N. Tata and the Founders of the Tata Group. Founded more than a century ago, the Tata Trusts are a unique vehicle for undertaking social good. On this solemn occasion, we rededicate ourselves to carrying on our developmental and philanthropic initiatives and continuing to play our part in nation-building.”
Who Is Noel Tata?
Born in December 1957 to Noel Tata and Simone N. Tata, a French-Swiss Catholic, Noel Tata is Ratan Tata’s half-brother. He holds a degree from Sussex University in the UK and has completed the International Executive Programme (IEP) at INSEAD.
Personal Life Of Noel Tata
Noel is married to Aloo Mistry, and together, they have three children—Leah, Maya, and Neville Tata—who are all actively involved in the family business. Leah serves as Vice President at the Indian Hotels Company, Maya is associated with Tata Capital, and Neville is part of Trent and the leadership team at Star Bazaar.
Noel Tata’s Contribution In Tata Group
Before his recent appointment, Noel Tata was Managing Director of Tata International Ltd., the group’s trading and distribution arm. Under his leadership from 2010 to 2021, the company experienced substantial growth, increasing its turnover from $500 million to over $3 billion, showcasing his ability to drive growth in a competitive market.
As Managing Director of Trent Ltd., Tata’s retail arm, he expanded operations from a single store in 1998 to over 700 stores across various formats. Currently, Noel holds several key positions: he is the chairman of Trent, Tata International Limited, Voltas, and Tata Investment Corporation, as well as the vice chairman of Tata Steel and Titan Company Limited. Additionally, he serves as a trustee on the boards of the Sir Ratan Tata Trust and Sir Dorabji Tata Trust, which together own over 50 per cent of Tata Sons.
Also Read: Tata Trusts Appoints Noel Tata As The New Chairman
Noel Tata’s New Role
With this appointment, Noel Tata has become the sixth chairman of the Sir Ratan Tata Trust and the 11th chairman of the Sir Dorabji Tata Trust. He was previously considered a candidate for the chairmanship of Tata Sons; however, the reins were ultimately handed over to Cyrus Mistry, Noel’s brother-in-law. Following Mistry’s controversial exit, N Chandrasekaran, then chief of Tata Consultancy Services (TCS), became the chairman of Tata Sons.
Noel Tata’s Net Worth
According to some reports, Noel Tata’s net worth is estimated to be $1.5 billion (approximately Rs 12,455 crore), but ABP Live couldn’t verify this independently.
