Noel Tata along with TVS chairman emeritus Venu Srinivasan and former defence ministry bureaucrat Vijay Singh are the three Tata Trusts nominee directors on the Tata Sons board
Tata Group chairman Noel Tata was appointed to the board of Tata Sons, the holding company of the group, in an online resolution on Friday. The announcement makes him the first Tata family member on the boards of both the Tata Trusts and Tata Sons simultaneously since 2011.
Following the appointment, Noel met Tata Sons chairman N Chandrasekaran, marking a beginning for a “healthy working relationship” between the two, the Economic Times reported, citing sources.
With Noel Tata joining the Tata Sons board, the strength has increased to three Tata Trusts nominee directors, including TVS chairman emeritus Venu Srinivasan and former defence ministry bureaucrat Vijay Singh. Presently, Noel Tata, along with Srinivasan, Singh and Mehli Mistry, are part of the executive committee governing Tata trusts.
The Tata Sons board consists of nine directors currently: two executive directors, including Chandrasekaran, three non-executive directors, comprising Noel Tata, Srinivasan and Singh, and four independent directors. Tata Sons takes care of around 30 firms across consumer goods, hotels, automobiles and airlines.
Earlier in October, Noel Tata was appointed as the chairman of the Tata Trusts after Ratan Tata passed away. Tata Trusts has indirect control over the group as it also appoints a third of the directors to the Tata Sons board. Those appointees exert special veto powers.
“I am deeply honoured and humbled by the responsibility that has been cast on me by my fellow Trustees. I look forward to carrying on the legacy of Mr. Ratan N. Tata and the Founders of the Tata Group,” Noel Tata said in a company’s statement.
His association with the Tata Group has been for nearly 40 years. He also serves as a board member for various Tata Group companies, including as the chairman of Trent, Tata International, Voltas and Tata Investment Corporation and as the vice chairman of Tata Steel and Titan. Additionally, he is a trustee on the boards of Sir Ratan Tata Trust and Sir Dorabji Tata Trust.