As part of a restructuring plan, Noel Tata could soon be inducted as a Director on the Board of Tata Sons, the holding company of all Tata Group firms. The move comes after he was appointed a trustee of the Sir Ratan Tata Trust in 2019. A final decision is yet to be made and a few discussions on the same have taken place, according to a report by the Hindu BusinessLine.
The move to induct Noel Tata on Tata Sons Board has been for some time gaining momentum. As per a source from the Tata group, “If Noel is inducted to the Tata Sons Board, it could be a precursor to appointing him as a successor to Ratan Tata. The equation between Noel and Ratan has improved over the last few years, especially after Noel backed his brother against Cyrus Mistry.” Certain insiders are also backing Noel Tata’s induction – as is his half-brother and Chairman Emeritus, Ratan Tata, as per the report.
Within the Tata Group of companies, Noel Tata is Chairman of Trent (Westside) and Tata Investment Corporation; Managing Director of Tata International and Vice Chairman of Titan Company. He is also son-in-law to Pallonji Mistry, the father of expelled Tata Sons Chairman, Cyrus Mistry.
The board at present comprises N Chandrasekaran as Executive Director; former IFC’s management group member – Farida Khambata; TVS Group CMD – Venu Srinivasan; Piramal and Sriram Group Chairman – Ajay Piramal; Jaguar Land Rover CEO – Ralf Speth; former Titan CEO – Bhaskar Bhat, former Unilever Group Chairman – Harish Manwani; and Tata Sons Group CFO – Saurabh Agrawal, as Directors.
There may also be other changes to the board, the report added.