Tata Trusts Board To Discuss New Representative For Tata Sons Board: Know Key Details
Apart from Noel Tata, Maya Tata is also being considered for the position, people with knowledge of the matter said.
Tata Trusts' board is scheduled to meet at 11 a.m. on Thursday to deliberate on the appointment of a third representative to the Tata Sons board, according to people with knowledge of the matter. The meeting will take place at Bombay House in Fort, Mumbai.
Among the leading contenders for the role is Noel Tata, a seasoned business leader and a key figure within the Tata family. However, Maya Tata, another prominent member of the Tata family and daughter of Noel, is also being considered, the people cited above said.
Maya Tata may also be in line for a different management role. The decision will be closely watched, as it could shape the future leadership of one of India's most influential conglomerates.
Tata Trusts officially named Noel Tata as its chairman last week, after the passing of Ratan Tata on Oct. 9. The unanimous decision was made during a board meeting of Tata Trusts in Mumbai, where discussions focused on the succession plan for the philanthropic organisation.
Noel, the half-brother of the late Ratan Tata, emerged as a key figure within the Tata Group, having played significant roles in various Tata companies. He chairs several entities, including Trent Ltd., Tata International Ltd., and Voltas Ltd. As vice-chairman of Tata Steel Ltd. and Titan Co. Noel has been instrumental in driving the conglomerate's growth since he joined the Tata Group in the early 2000s.
Tata Trusts own 65.3% of Tata Sons. Of the 14 trusts that make up Tata's philanthropic arm are two primary trusts—Sir Ratan Tata Trust and Sir Dorabji Tata Trust. Together, these entities hold over 50% of ownership in Tata Sons, reinforcing their influence over one of India’s largest conglomerates.
(This is a developing story).
