In an important development signalling succession planning, two main Tata trusts controlling Tata Sons roped in Noel Tata as a trustee making him a board member, as per media reports.
Reports said the move signals succession planning and continued association of the Tata family with the philanthropic body that controls the Tata group. Noel Tata thus will be the family representative on the Trusts side along with Ratan Tata while a professional will manage the Tata Group.
Noel Tata is on the board of Sir Dorabji Tata Trust and Allied Trusts also paves the way for the board of Tata Sons after he gave up his executive responsibilities at the Tata group in November, stepping down as managing director of Tata International after turning 65.
The Tata group requires executive directors to retire at 65. Noel Tata continues to hold a non-executive post as chairman of Trent, Tata Investment Corp, Voltas and Tata International. He is also vice chairman of Titan.
Noel Tata became the managing director of Tata International in 2010.
Before Tata International, he was with Trent, the company that owns retail clothing store Westside, serving as its managing director for more than 11 years. Noel Tata was appointed vice chairman of Trent in 2012 and chairman in 2014.
Source : IANS