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Tata Trusts’ Chief Operating Officer Harish Krishnaswamy has put in his papers, continuing the recent churn at the group that witnessed the resignation of Managing Trustee R Venkataramanan earlier this week.
Krishnaswamy had resigned at least two or three days before the recent developments, even though it was not in the public domain, sources close to the development told BusinessLine . However, the reasons for his exit could not be immediately ascertained.
Tata Trusts, which are amongst India’s oldest philanthropic organisations, own a two-third stake in Tata Sons, the holding company of all Tata group companies.
On February 13, Tata Trusts Managing Trustee R Venkataramanan had stepped down from his role, citing a desire to explore other options. He will relinquish responsibilities on March 31.
He had informed trustees that he had been considering other options as he had completed five years as the trusts’ executive trustee and managing trustee.
The churn also saw the appointment of Noel N Tata, Chairman of Trent and Managing Director of Tata International, and Jehangir H C Jehangir, a philanthropist who heads the healthcare mission at Jehangir Hospital, Pune, as trustees of Sir Ratan Tata Trust.
A Committee of Trustees comprising Ratan N Tata, Chairman of the Trusts, and Vijay Singh and Venu Srinivasan, vice-chairmen of the Trusts, has been established with immediate effect to oversee the operations and to select a chief executive for the trusts.
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