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Ratan Tata Passes Away: With the demise of Ratan Tata, the veteran industrialist who was the patriarch of the Tata Group, the autos-to-steel conglomerate will have a crucial task of picking the titan’s successor, who will head the $165 billion business empire spread across 100 countries.
The stalwart businessman who created India’s first multinational conglomerate with marquee acquisitions passed away in Mumbai on Wednesday due to age-related illnesses. He was the chair for Tata Trusts, which owns a 66 per cent stake in closely held Tata Sons Pvt, which controls the group’s largest listed entities. Tata Trusts is a collective of charities that indirectly controls the Tata Group.
The final rites of the renowned industrialist and philanthropist were performed with full state honours at a central Mumbai crematorium. The Mumbai police paid tribute to Tata with a gun salute. The industry titan’s family members, including the half-brother Noel Tata, and top executives from the Tata Group, like chairman N Chandrasekaran, were present at the Worli crematorium.
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Earlier today, Prime Minister Narendra Modi spoke to Noel Tata and expressed condolences on the passing away of his sibling. Ratan Tata’s half-brother, Noel Tata, is emerging as one of the key figures in the governance of the trusts and will likely control the group’s holding companies, succeeding Ratan Tata. Noel Tata is the 67-year-old son of Naval Tata, Ratan’s father, and Simone Tata.
Noel Tata-key frontrunner to helm Tata Trusts
Already on the boards of the key Sir Ratan Tata Trust and Sir Dorabji Tata Trust, the patriarch’s half-brother is the frontrunner to succeed him. Since 2014, he has been the chairman of Trent Ltd, the conglomerate’s massively successful apparel retailer.
Trent Ltd’s shares have surged more than 6,000 per cent in the past decade, and it has been a runaway success in the domestic fast fashion sector. Trent, which has been expanding its store count and workforce even as peers cut jobs, has been one of the most successful Tata companies in recent years.
Noel Tata was inducted onto the Sir Ratan Tata Trust board, one of the main trusts that hold significant influence over Tata Sons and the Tata Group in 2019. Noel became vice chairman of Titan Company in 2018, and in March 2022, he was appointed vice chairman of Tata Steel, further solidifying his presence within the group.
Noel Tata previously helmed Tata International Ltd from 2010 to 2021, during which the commodity trading firm’s revenue jumped from $500 million to over $3 billion. He is also on the boards of several listed Tata firms, including Tata Steel Ltd and Voltas Ltd. His children — Maya, Neville and Leah — are also trustees of some of the family-linked charities, according to the Tata Trusts website.
Noel Tata is known for his relatively low-profile leadership style, a stark contrast to Ratan Tata’s more public-facing role. While Ratan Tata’s leadership was characterised by visibility and media engagement, Noel has remained out of the limelight, focusing instead on the group’s international operations and retail businesses.
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