In Noel The Tatas Trust

Tata Trusts Anoints Ratan Tata's Half-brother And Tata Group Veteran Noel Tata As Its Chairman. Experts Say The Move Signals Continuity At The Country's Oldest Philanthropic Institution

- M.G. ARUN

It wasn't just another meeting of the board of the 132-yearold Tata Trusts in Mumbai on October 11. Just two days ago, Ratan Tata, 86, the charismatic chairman emeritus of the Tata Group and chairman of Tata Trusts-the philanthropic giant that has a 66 per cent stake in Tata Sons, the holding company of the $165 billion (Rs 13.8 lakh crore) salt-to-software conglomerate-had passed away. The meeting, held a day after his state funeral, had a significant agenda-to decide on his successor at Tata Trusts. What followed was a "smooth transition", as insiders would put it, with Noel Tata, 67, a trustee on the board and Ratan Tata's half-brother, unanimously elected as the chairman.

"Noel Tata's appointment signifies continuity," says H.P. Ranina, Supreme Court lawyer and a close observer of the Tata Group for decades. "Noel has filled the void left by Ratan Tata's demise. The trusts will continue to operate as they have done before." But the significance of the ascent of someone who carries the Tata surname was too big to be missed. Born to Naval Tata, Ratan's father, and his second wife, the Swiss-born Simone Tata (credited with building the Lakme brand, later sold to Hindustan Unilever), Noel has been associated with the Tata Group for over 40 years, currently serving on the boards of its various companies, including as the chairman of the retail arm Trent, the global trading and distribution firm Tata International, durables maker Voltas, and non-banking financial company Tata Investment Corporation. He is also the vice chairman of Tata Steel and Titan Company.

"I look forward to carrying on the legacy of Mr Ratan N. Tata and the founders of the Tata Group," Noel, who holds an Irish passport, said in a statement following his appointment.