MUMBAI: Noel Tata , chairman of Tata Trusts , which holds an approximately 66% stake in Tata Sons , is set to be appointed to the board of the latter, reports Reeba Zachariah.
Noel will be the sole member of the Tata Group 's founding family to hold positions on boards of both Tata Sons and Tata Trusts. He will be one three Trusts' nominees on the Tata Sons board, the other two being Venu Srinivasan and Vijay Singh.
Noel's appointment to the Tata Sons board has been anticipated by Tata Group observers, as he was previously considered a potential candidate for the chairman's role. Speculation about him succeeding Ratan Tata in 2011 and his induction on the Tata Sons board arose when he became a trustee of Sir Ratan Tata Trust in 2019 and Sir Dorabji Tata Trust in 2022. However, the chairman's position ultimately went to Cyrus Mistry , his brother-in-law, and later to N Chandrasekaran .
AoA barred same person from being chair of both Tata Sons, Tata Trusts concurrently
Despite Noel’s appointment as a director on the Tata Sons board, Chandrasekaran will remain the company’s chairman. To avoid potential conflicts of interest, Tata Sons amended its articles of association (AoA) to prevent the same person from holding the chairmanship of both Tata Sons and Tata Trusts simultaneously.
This regulation effectively precludes Noel, 67, from becoming the chairman of Tata Sons. Ratan Tata was the last person to hold both positions concurrently.
According to Tata Sons’ AoA, Trusts can nominate one-third of the directors on the holding company’s board, provided they hold at least 40% stake. The Trusts’ directors also have veto power over board decisions. Currently, Tata Sons has nine directors, including two executive directors (one being Chandrasekaran), three non-executive directors (two being Venu Srinivasan and Vijay Singh) and four external/independent directors.
Apart from his role in Tata Trusts, Noel serves as chairman of several Tata Group companies, including Trent, Voltas, Tata Investment Corporation, and Tata International. He is also vice-chairman of Titan and Tata Steel. Noel is married to Aloo Mistry, sister of Cyrus Mistry; the Mistry family holds a significant stake in Tata Sons. Noel’s family has a strong presence in the Tata Group. His father, Naval Tata, served as chairman of Sir Ratan Tata Trust and deputy chairman of Tata Sons. His mother, Simone Tata, was a director of Tata Industries until her retirement in 2006. Noel’s halfbrother, Jimmy Tata, is a trustee of Sir Ratan Tata Trust, and his three children, Leah Tata, Maya Tata, and Neville Tata, hold positions on the boards of five Trusts affiliated with Sir Dorabji Tata Trust and Sir Ratan Tata Trust.
Noel will be the sole member of the Tata Group 's founding family to hold positions on boards of both Tata Sons and Tata Trusts. He will be one three Trusts' nominees on the Tata Sons board, the other two being Venu Srinivasan and Vijay Singh.
Noel's appointment to the Tata Sons board has been anticipated by Tata Group observers, as he was previously considered a potential candidate for the chairman's role. Speculation about him succeeding Ratan Tata in 2011 and his induction on the Tata Sons board arose when he became a trustee of Sir Ratan Tata Trust in 2019 and Sir Dorabji Tata Trust in 2022. However, the chairman's position ultimately went to Cyrus Mistry , his brother-in-law, and later to N Chandrasekaran .
AoA barred same person from being chair of both Tata Sons, Tata Trusts concurrently
Despite Noel’s appointment as a director on the Tata Sons board, Chandrasekaran will remain the company’s chairman. To avoid potential conflicts of interest, Tata Sons amended its articles of association (AoA) to prevent the same person from holding the chairmanship of both Tata Sons and Tata Trusts simultaneously.
This regulation effectively precludes Noel, 67, from becoming the chairman of Tata Sons. Ratan Tata was the last person to hold both positions concurrently.
According to Tata Sons’ AoA, Trusts can nominate one-third of the directors on the holding company’s board, provided they hold at least 40% stake. The Trusts’ directors also have veto power over board decisions. Currently, Tata Sons has nine directors, including two executive directors (one being Chandrasekaran), three non-executive directors (two being Venu Srinivasan and Vijay Singh) and four external/independent directors.
Apart from his role in Tata Trusts, Noel serves as chairman of several Tata Group companies, including Trent, Voltas, Tata Investment Corporation, and Tata International. He is also vice-chairman of Titan and Tata Steel. Noel is married to Aloo Mistry, sister of Cyrus Mistry; the Mistry family holds a significant stake in Tata Sons. Noel’s family has a strong presence in the Tata Group. His father, Naval Tata, served as chairman of Sir Ratan Tata Trust and deputy chairman of Tata Sons. His mother, Simone Tata, was a director of Tata Industries until her retirement in 2006. Noel’s halfbrother, Jimmy Tata, is a trustee of Sir Ratan Tata Trust, and his three children, Leah Tata, Maya Tata, and Neville Tata, hold positions on the boards of five Trusts affiliated with Sir Dorabji Tata Trust and Sir Ratan Tata Trust.
You may also like
UAE weather: Chance of rainfall today; temperatures to dip to 17°C in some areas
OVO: Slash your annual energy bills by £410 with home upgrade
Shooting Incident At RLD Leader's House In Noida, Suspect Detained
Why Are Bengaluru's Daytime Temperatures Matching Nighttime Coolness?
Chaos erupts in "Samvidhan Bachao Maharashtra Bachao" program as BJYM workers' protests
Meta lays off employees at WhatsApp and Instagram, the Verge reports
Plot to kill Salman Khan: Navi Mumbai police nab man from Haryana
Bahraich violence victim died of "excessive bleeding" due to pellet injuries: CMO Sanjay Kumar
Joe Root Hits New High, Joins Virat Kohli And Don Bradman In Elite List After Multan Masterclass
Blockbuster Combination Balakrishna And Boyapati Sreenu's Akhanda 2 Launched
Sharjah's 'viral' milk brand: Residents queue up from 6am as bottles get sold out within hours
The beautiful little country with world's 'best beaches' that's 30C in November
GMB host Kate Garraway's struggle she lived with for 18 years left her 'super skinny'
IND vs NZ, Bengaluru Test Day 2 Live: Covers Off After Rain Washes Out Day 1, On Time Start Possible
BSF Meghalaya apprehends Bangladeshi smuggler with sugar near International Border
Drivers told flick switch in the rain or risk £5,000 fine and licence points
Tasmanian tiger poised for incredible comeback after massive breakthrough
Lawns go from 'ugly' to 'lush, green and healthy' with 1 natural item - deters slugs too
Meghan Markle's mouthpiece Omid Scobie dubbed "f*****g nuts' in Mike Tindall's new book
Professor Tim Spector shares morning hot drink that could lower risk of heart disease