'Deeply Humbled': Noel Tata Vows to Uphold Group's Century-old Legacy as New Chairman

New Delhi: Noel Tata, half-brother of legendary industrialist late Ratan Tata, will be the new chairman of Tata Trusts -- a collective of charities that indirectly controls the USD 165-billion salt-to-software conglomerate. Noel Tata has been appointed as Chairman of all the trusts that constitute the Tata Trusts and also designated Chairman, Tata Trusts, Tata Trusts said in a a statement.  "In separate meetings held immediately, thereafter, it was unanimously decided to appoint Mr. Noel Naval Tata as the Chairman of the various Trusts that constitute the Tata Trusts and also designate him as Chairman, Tata Trusts," the statement added. 

'Look Forward to Carrying on Ratan Tata's Legacy': Noel Tata's First Reaction  

After his appointment, Noel Tata expressed his commitment to upholding the values and legacy of Ratan N Tata. In a statement following the announcement, Noel 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 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."

Noel Tata Steps into Leadership Role

Having largely operated in the shadow of his illustrious half-brother, Noel Tata now assumes the pivotal role of leading the Tata Trusts, which include the Sir Ratan Tata Trust and Allied Trusts, as well as the Sir Dorabji Tata Trust and Allied Trusts. These trusts hold a significant controlling stake of 66 percent in Tata Sons, the holding and promoter firm for Tata Group companies.

Noel, known for his low profile, was present at his half-brother's cremation on Thursday. The board meeting of Tata Trusts convened to select Ratan Tata’s successor following his passing on Wednesday.

A Longstanding Association with Tata Group

Noel has been part of the Tata Group since 1999 and currently chairs Trent, the group's successful retail arm, overseeing well-known chains such as Westside and Zudio, which boasts a market capitalization exceeding Rs 2 lakh crore. Additionally, he holds the chairmanship of Voltas and Tata International.

Married to Aloo Mistry, the sister of the late Cyrus Mistry, Noel is connected to the Shapoorji Pallonji family, which is the largest private shareholder in Tata Sons, holding over 18.4 percent. The relationship between the Shapoorji Pallonji group and the Tata family has been strained since Cyrus Mistry's dismissal as chairman of Tata Sons.

Tata Group’s Global Reach and Future Prospects

Tata Sons manages all commercial enterprises within the group, which collectively reported revenues of USD 165 billion last year. Noel was widely considered a front-runner for the chairmanship, although there was speculation about Ratan Tata's long-time confidante, Mehli Mistry, potentially taking charge.

Noel Tata, the son of Naval H. Tata and Simone N. Tata, currently serves on the boards of various Tata Group companies, including as Chairman of Trent, Tata International Ltd, and Voltas. He is also the Vice Chairman of Tata Steel and Titan Company Ltd. With over 40 years of experience in the Tata Group, he previously served as the Managing Director of Tata International Ltd from August 2010 to November 2021, during which he successfully grew the company’s turnover from USD 500 million to over USD 3 billion.

Before his role at Tata International, Noel was Managing Director of Trent Ltd, playing a crucial role in its expansion from a single store in 1998 to over 700 outlets across various formats. He is a graduate of Sussex University in the UK and completed the International Executive Programme (IEP) at INSEAD.