Noel Tata, the half-brother of late Indian tycoon Ratan Tata, has been appointed to the board of Tata Sons, the group company that operates the $165 billion salt-to-software conglomerate, the company’s website on Tuesday (November 5, 2024) showed.
The move follows Noel Tata’s appointment last month as the chairman of the powerful and influential philanthropic arm of the Tata group, called Tata Trusts.
Tata Trusts owns 66% of Tata Sons and appoints a third of the directors to the Tata Sons board. Those appointees receive special veto powers.
Internal trust and company rules do not allow the Tata Trusts chairman to head Tata Sons as well, a source had told Reuters earlier.
Reuters reported earlier that Noel Tata, 67, will likely join the board of Tata Sons.
The parent company, Tata Sons, oversees 30 firms across consumer goods, hotels, automobiles, and airlines and houses brands such as Jaguar Land Rover and Tetley Tea in its portfolio.
Ratan Tata, one of India’s most well-known business titans, died in early October, aged 86.
Published – November 05, 2024 03:24 pm IST