Noel Tata’s children – Leah, Neville, and Maya – have been appointed to the boards of five philanthropic organisations of Tata Trusts, which oversees the $150-billion Tata group.
The move is being seen as part of the Trusts’ succession plan.
Noel Tata’s wife Aloo is the daughter of Pallonji Mistry, whose family owns an 18.5 per cent stake in Tata Sons, the holding company of Tata group. Tata Trusts own a 66 per cent stake in Tata Sons.
Leah, 39, will serve on the Tata Education Trust, Tata Social Welfare Trust, and Sarvajanik Trust. Maya, 36, will serve on RD Tata Trust, apart from Tata Education Trust and Sarvajanik Trust, while Neville, 32, was named on the board of Tata Indian Institute of Skills. Earlier, in 2022, they were inducted into the board of Tata Medical Centre, a cancer hospital in Kolkata.
This (inclusion of Noel’s children in smaller Tata trusts) was expected and is a part of the succession planning. These smaller trusts, affiliated to Sir Ratan Tata Trust and Sir Dorabji Trust, are looking after specific projects and will give experience to the next generation,” said HP Ranina, a Mumbai-based senior advocate and a Tata group watcher. “This is a step in the right direction and there will not be any confusion about succession at the trusts in the future,” Ranina added.
The smaller Tata Trusts own a minority stake in Tata Sons and run their operations with the dividend income from the Tata group’s holding company.
An email sent to Tata Trusts on Tuesday did not elicit any response till the time of going to the press.
First Published: May 22 2024 | 11:46 PM IST
