Mehli Mistry, Noel Tata lead race to become Tata Trusts chairman: Report

Tata Trusts, the philanthropic organisation at the heart of the Tata Group, is preparing to select a successor for the late Ratan Tata. The Trusts are holding a crucial meeting on Friday, reported The Economic Times, where Noel Tata, Ratan Tata’s stepbrother, is expected to emerge as the frontrunner to lead the Trusts. The trust plays an important role in the governance of the Rs 165 billion Tata Group.
Noel Tata is already a trustee in the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, which together hold a 66% stake in Tata Sons, the holding company of the Tata Group. This includes a 52% stake held directly by the Sir Dorabji and Sir Ratan Tata Trusts.
Noel Tata has been a part of the Tata Group for over 40 years and is seen as a strong contender for the position of chairman. He currently holds significant roles within the Tata Group, including Chairman of Tata International Limited, Voltas, and Tata Investment Corporation. He is also the Vice Chairman of Tata Steel and Titan Company Limited.
Noel’s leadership style is known for being low-key and behind-the-scenes, in contrast to the more visible public presence of Ratan Tata. He has been credited with expanding the Tata Group’s global reach, particularly in retail. During his time as Managing Director of Trent, he grew the company into a Rs 2.8 lakh crore retail powerhouse. He was also the Managing Director of Tata International Limited, where he increased the company’s turnover from $500 million to over $3 billion.
Noel Tata’s association with the Tata Trusts has grown in recent years. He became a trustee of the Sir Ratan Tata Trust in 2019 and joined the board of the Sir Dorabji Tata Trust in 2022, which many saw as a sign of his increasing role in the Trusts’ leadership.
Another name that has emerged as a strong contender is Mehli Mistry, a businessman and close ally of Ratan Tata. Mehli Mistry is the first cousin of the late Cyrus Mistry, but he has been a staunch supporter of Ratan Tata, especially during the controversial removal of Cyrus Mistry as chairman of Tata Sons in 2016.
Mehli Mistry has been involved with Tata Trusts for many years and was appointed to the boards of both the Sir Dorabji Tata Trust and Sir Ratan Tata Trust in 2022. His role within the Trusts has increased significantly in recent years, making him a potential candidate for the chairmanship.
Mistry comes from the M Pallonji Group, where he is a director. The group operates in sectors such as painting, dredging, logistics, shipping, finance, auto dealerships, and life insurance. His business background and long-standing relationship with Tata Trusts make him a key figure in the race to lead the Trusts.
The Tata Trusts are not only philanthropic organisations but also hold a controlling stake in Tata Sons, giving them significant influence over the direction of the Tata Group. The Trusts play a central role in the group’s governance and decisions.
Ratan Tata, who was the last person to hold both the roles of chairman of Tata Sons and Tata Trusts, made significant contributions to the group’s growth and global reach during his tenure. However, the Tata Sons board amended its Articles of Association in 2022, ensuring that the roles of chairman of Tata Sons and Tata Trusts remain separate in the future.
The Tata Trusts board currently has two vice-chairmen: Venu Srinivasan, an industrialist from the TVS Group, and Vijay Singh, a former defence secretary. Both have served as vice-chairmen since 2018 and have been involved in the governance of the Trusts.
The decision on who will lead Tata Trusts will be made by a consensus among the trustees. The Trusts’ leadership is crucial for the future of the Tata Group, and whoever takes on the role will need to maintain a careful balance between the philanthropic goals of the Trusts and the commercial interests of Tata Sons.
If selected, Noel Tata would continue a long-standing tradition of having a Tata family member lead the Trusts. This has been a point of strong consensus within the Parsi community, which favours the appointment of someone with the Tata surname. Noel’s extensive experience and deep ties to the group make him a likely choice.
Noel’s family is also closely involved with the Tata Group. His son, Neville Tata, joined Trent in 2016 and recently took charge of Star Bazaar, signalling the next generation’s rise within the group. Noel’s daughters, Leah and Maya Tata, are also involved in Tata Group companies.
Leah is responsible for the Gateway brand at Indian Hotels, while Maya works at Tata Digital, with a focus on new-age analytics and technology. All three of Noel’s children have been appointed as trustees of several affiliated Tata Trusts, further cementing the Tata family’s involvement in the group’s future.