Tata Trusts chairman Noel is named: Ratan's half-brother assumes control of the $615 billion company

I look forward to carrying on the legacy of Mr. Ratan N. Tata and the Founders of the Tata Group," Noel Tata stated in response to his appointment. Established over a century ago, the Tata Trusts represent a distinctive means of pursuing social good. Among these are the two main trusts, the Sir Ratan Tata Trust and the Sir Dorabji Tata Trust, which together control over 50% of Tata Sons, the main holding company and corporation that promotes the Tata brands. Thirteen charitable trusts together own sixty-six percent of Tata Sons. Tata Trust chairmen have always come from the Parsi community. It has also been revealed that the community wanted someone with a Tata surname to lead these trusts, which made Noel Tata the most obvious candidate. There were rumours circulating prior to his selection that Mehli Mistry, a close confidante of Ratan Tata, was also a contender. However, this could not be verified. In a joint meeting in Mumbai, the trustees of the several Tata Trusts expressed their condolences for the passing of Ratan Tata, the chairman of the Tata Trusts, and "recalled his yeoman services not only to the Tata Group but also to nation building," according to a statement. The announcement also stated, "It was unanimously decided in separate meetings held immediately thereafter to appoint Mr. Noel Naval Tata as the Chairman of the various Trusts that constitute the Tata Trusts and also designate him as Chairman, Tata Trusts." It further stated that his appointment is effective right now. As the sixth chairman of the Sir Ratan Tata Trust and the eleventh chairman of the Sir Dorabji Tata Trust, Noel assumed these roles. "I look forward to carrying on the legacy of Mr. Ratan N. Tata and the Founders of the Tata Group," Noel Tata stated in response to his appointment. The Tata Trusts, which were established over a century ago, offer a special means of pursuing social good.