Noel Tata Cannot Become The Chairman Of Tata Sons, Know Why

As per the Articles of Association of Tata Sons, a single person cannot assume the position of the Chairman of both Tata Trusts and Tata Sons at the same time

By : ABP News Bureau | Updated at : 27 Oct 2024 04:07 PM (IST)

Tata Trusts represents the philanthropic division of the Tata Group and Noel Tata took over as the Chairman on October 11, 2024.
Source : Angel One

Noel Tata assumed the role of Chairman of the Tata Trusts, following iconic businessman Ratan Tata’s death on October 9, 2024. Tata Trusts represents the philanthropic division of the Tata Group. The former took over as the Chairman on October 11, 2024.

Meanwhile, Tata Sons represents the major holding company of the Tata Group and is owned by the Trusts. However, Noel Tata cannot take over the role of Chairman of Tata Sons due to a rule made by the Tata Board in 2022. 

As per the Articles of Association of Tata Sons, a single person cannot assume the position of the Chairman of both Tata Trusts and Tata Sons at the same time.

Article 118 of the Articles of Association was amended by Tata Sons in 2022. The article deals with the process for appointing the Chairman of the Board, reported Livemint.

The annual report of the company for the 2021-22 fiscal year (FY22) noted, “… provision of Section 14 of Companies Act, 2013 and other applicable provisions of the Act and rules made thereunder, if any, as amended from time to time, consent of members be and is hereby accorded to amend the Articles of Association of the Company, by incorporating the following in Article 118…..To prevent any one individual from being Chairman of both Tata Trusts and Tata Sons simultaneously.”

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Therefore, the rules state that Noel Tata cannot be named the Chairman of Tata Sons as long as he holds his current designation.

Born in December 1957, Noel Tata is married to Aloo Mistry and the couple have three children, Leah, Maya, and Neville Tata. All their children are involved in the family business. Leah serves as the Vice President at the Indian Hotels Company, Maya works with Tata Capital, and Neville is involved in Trent and leadership team at Star Bazaar. 

Published at : 27 Oct 2024 04:07 PM (IST)
Tags :
Ratan Tata Tata Sons Tata Trusts Tata Sons Chairman Noel Tata Tata Trusts Chairman

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