Noel Tata appointed chairman of Tata Trusts, CNBC TV18 says

Noel Tata was appointed on Friday as chairman of Indian conglomerate Tata group’s philanthropic arm Tata Trusts, the CNBC TV18 channel reported, succeeding his half-brother Ratan who died this week aged 86.

Noel’s appointment is of significance as Tata Trusts owns 66% of Tata Sons, the holding company of various firms under the Tata brand which is more than 150 years old.

Ratan, one of India’s most respected corporate leaders, built the Tata empire into a global conglomerate that spanned across industries.

Tata Trusts was setup by Noel and Ratan’s great grandfather Jamsetji Tata in 1892, years after he founded the Tata group.

Tata Trusts has since diversified into various sectors such as education, healthcare and housing.

Noel Naval Tata already serves as a trustee on the board of Sir Ratan Tata Trust and Sir Dorabji Tata Trust. He is also the chairman of Tata Trent and vice chairman of Tata Steel.

Ratan, who never married, was known for his exemplary business acumen and philanthropic.

He was chairman of the autos to steel conglomerate for over 20 years, and was responsible for acquisitions of foreign companies during his tenure.

Tata Trusts did not immediately respond to a request for comment from Reuters.