Noel Tata will now be the chairman of Tata Trust. Before his death, Ratan Tata was handling this responsibility. Tata Trust is a group of charitable organizations of Tata Group.
It has the highest share of 66 percent in Tata Group which has a revenue of Rs 13 lakh crore. Sir Dorabji Tata Trust and Sir Ratan Tata Trust, which come under Tata Trust, have 52 percent stake in Tata Sons.
Ratan Tata’s step brother Noel Tata will now take over his legacy. Tata Trust has announced in a meeting that Noel Tata will be made the new chairman. Before his death, Ratan Tata was the head of Tata Trust. Currently, Tata Sons is the biggest company of Tata Group, but Tata Trust is even higher in terms of management.
Tata Trust is actually a group of charitable organizations of Tata Group. It has the largest share of 66 percent in Tata Group which has a revenue of Rs 13 lakh crore. Sir Dorabji Tata Trust and Sir Ratan Tata Trust, which come under Tata Trust, have 52 percent stake in Tata Sons.
Ratan Tata did not appoint anyone as his successor
Padma Vibhushan awardee veteran businessman Ratan Tata died late on Wednesday night. His last rites were performed on Thursday. Ratan Tata had not named anyone as his successor before his death. In such a situation, the decision of Ratan Tata’s successor was taken in the meeting of Tata Trust. In this, Noel Tata was made the new chairman.
Tata’s business extends from the kitchen to the airplane
The decision to appoint Noel Tata as the chairman of Tata Trust is very important as it includes a diversified portfolio in industries ranging from aviation to automobile. The appointment of Noel Tata as chairman sends a message to shareholders that a member of the founding family is leading the philanthropic organization. It has donated about $ 56 million (Rs 470 crore) during the financial year 2023.
Ratan was the chairman of both Tata Sons and Tata Trust
Ratan Tata was the last person to hold the role of chairman of both Tata Sons and Tata Trust. But, the Articles of Association of the Tata Group were amended in 2022. According to the new amendment, now the same person is barred from holding both the posts. The purpose of this rule is to change the structure of governance.
Natarajan Chandrasekaran is the chairman of Tata Sons
At present, the biggest company of Tata Group is Tata Sons. Its chairman is N Chandrasekaran. But, Tata Trust is above this company as well. Its command has been handled by the members of Tata family. Ratan was the head of Tata Trust till his death. Now Noel Tata will take over his responsibilities.
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