Noel Tata has recently joined the board of Tata Sons, representing Tata Trusts, which he now chairs following Ratan Tata’s passing. The decision came through an online vote during a Tata Sons virtual meeting held just before Diwali, according to inside sources. With this role, Noel Tata becomes the first Tata family member since 2011 to serve simultaneously on the boards of both Tata Sons and Tata Trusts. Tata Trusts holds a 66% stake in Tata Sons, marking it as the primary shareholder.
Key Players on the Tata Sons Board
Noel Tata’s inclusion brings the total number of Tata Trusts representatives on the Tata Sons board to three, alongside notable figures such as Venu Srinivasan, chairman emeritus of TVS, and Vijay Singh, a former defence ministry official. The board currently has nine directors, including two executives and four independents. Noel Tata also leads the Tata Trusts executive committee, alongside Srinivasan, Singh, and Mehli Mistry.
Strengthening Connections with Tata Sons Leadership
Following his appointment, Noel Tata met with Tata Sons Chairman N Chandrasekaran, setting a positive tone for collaboration. Noel Tata also maintains non-executive roles across other Tata companies, serving as chairperson at Tata Investment Corp., Trent, and Voltas, and as vice chairperson at Titan and Tata Steel.
The Path to Leadership in Tata Trusts
Ratan Tata previously held the role of Tata Trusts chairman, as well as the title of chairman emeritus at Tata Sons. In 2022, Tata Sons amended its Articles of Association (AoA), ensuring that no one could lead both entities simultaneously. Noel Tata, now 67, retired from executive roles at age 65, following the group’s mandate. While there are retirement rules for executives, non-executive and trustee positions have no such age limitations, allowing Noel Tata to continue in a non-executive capacity.
Noel Tata’s Leadership Successes
Noel Tata has a proven track record in elevating Tata Group’s businesses. Since becoming chairman of Trent in 2014, he led a significant transformation, increasing the retail division’s revenue by 430%, from ₹2,333 crore in FY14 to ₹12,375 crore in FY24. The company also turned a ₹19 crore loss into a ₹1,477 crore profit.
In August 2017, he assumed the role of chairman at Voltas, doubling its revenue from ₹6,404 crore in FY17 to ₹12,481 crore in FY24. Voltas’ stock surged by nearly 300% during this period. Meanwhile, Tata Investment Corp., another entity he chairs, has seen its stock grow by 705% over the last five years, considerably outperforming the Nifty index.
