The half-brother of Ratan Tata was appointed yesterday as the head of the powerful and influential philanthropic arm of India’s Tata group, giving him indirect control of the $165 billion conglomerate.
Tata Trusts said Noel Tata, 67, will be its new chairman after the death this week of Ratan Tata, one of India’s best-known corporate titans.
The decision followed “many old-timers” in the group wanting him to lead the venture, said one Tata executive, who spoke on condition of anonymity.
The parent company, Tata Sons, oversees 30 firms across consumer goods, hotels, automobiles and airlines and has become a global juggernaut over the years, with brands such as Jaguar Land Rover and Tetley Tea in its stable.
It owns Tata Consultancy Services, Taj Hotels and Air India and counts Starbucks and Airbus as partners in India.
