Mumbai: Noel Tata has been named the new Chairman of Tata Trusts, the philanthropic entities that control the holding company of Tata Group, following the passing of Ratan Naval Tata.
In a meeting held on Friday, the board of Tata Trusts approved Noel Tata’s appointment. He is the half-brother of the late Ratan Tata, who was instrumental in elevating the Tata Group to global prominence. Ratan Tata passed away at the age of 86 on October 9.
“After a condolence meeting today, the board of Tata Trusts approved Noel Tata as the successor to Ratan Tata,” an executive informed reporters.
Tata Sons, the holding company, is majority-owned by Tata Trusts (65.9%), with additional shares held by various Tata Group companies (12.87%) and the Mistry family (18.4%).
