The Tata Trusts are set to meet in Mumbai today to deliberate on the group’s succession plans in the wake of the death of former Tata Group chairman, Ratan Tata.
What Happened: The meeting is expected to centre around the future leadership of Tata Trusts, as per a Bloomberg report. Ratan Tata, who passed away on October 9 at 86 years old, held a 0.83% direct stake in Tata Sons, the holding company of the Tata Group. This stake constituted the majority of his net worth.
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Ratan Tata’s half-brother, Noel Tata, is anticipated to take on a significant role in the governance of the trusts that supervise the group’s holding companies. Over the recent years, Noel Tata has taken on more responsibilities within the Group. He currently serves as a trustee of the Sir Ratan Tata Trust and the Sir Dorabji Tata Trust.
The trusts, which are integral to the operations of the Tata Group, oversee the group’s philanthropic initiatives and hold the majority stake in Tata Sons. The Tata Group operates in over 100 countries across six continents, generating a revenue of more than $165 billion (around ₹13.6 lakh crore) in 2023-24 and employing over 10 lakh people.
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