Companies

Tata Sons may induct Noel Tata as Director as part of board revamp

Our Bureau Mumbai | Updated on June 23, 2020 Published on June 23, 2020

Noel Tata   -  Vijay Soneji

Move understood to be backed by Ratan Tata, Noel’s half brother

Tata Sons, the holding company of all Tata Group firms, is likely to induct Noel Tata as a Director on its board, as part of a restructuring plan.

The move to induct Noel Tata on Tata Sons, which has been on for some time, has now gained momentum. While a final decision is yet to be taken, a couple of discussions on this front have taken place, a source close to the development said.

In 2019, Noel Tata was appointed a trustee of Sir Ratan Tata Trust, the second-biggest trust of Tata Trusts after Sir Dorabji Tata Trust. There could be other changes to the board composition.

Tata Sons was not available for comment.

Certain Tata insiders are also batting for the appointment of Noel on Tata Sons’ board, a move that is understood to be backed by Chairman Emeritus and Noel’s half brother Ratan N Tata. “If Noel is inducted to the Tata Sons Board, it could be a precursor to appointing him as a successor to Ratan Tata,” said a Tata group veteran. “The equation between Noel and Ratan has improved over the last few years, especially after Noel backed his brother against Cyrus Mistry.”

Board composition

The present board of Tata Sons comprises N Chandrasekaran (Executive Chairman) and directors Farida Khambata (former member of IFC’s management group), Venu Srinivasan (chairman and managing director of TVS Group), Ajay Piramal (Chairman of Piramal and Shriram groups), Ralf Speth (CEO of Jaguar Land Rover), Bhaskar Bhat (former Titan CEO), Harish Manwani (former group chairman of Unilever) and Saurabh Agrawal (Tata Sons group CFO).

Noel Tata is now chairman of Trent (which operates Westside) and Tata Investment Corporation. He is also the Managing Director of Tata International and the Vice-Chairman of Titan Company.

He is married to Aloo Mistry, the daughter of Pallonji Mistry, whose son Cyrus Mistry was ousted Tata Sons’ Chairman.

Published on June 23, 2020
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