Noel moves up in Tata Group

Jun 28, 2010 |

New Delhi

Succession has been the enigma at the over $71 billion corporate giant Tatas, and the appointment of Mr Noel Tata, as the chairman of Tata Investment Corporation, has triggered speculation that he will step into the shoes of his half brother, Mr Ratan Tata as chairman of the conglomerate. Mr Noel, 53, was appointed the chairman of TIC, the non-banking financial arm of the Tata group last week to succeed Mr N. A. Soonawala, as the non-executive chairman.

He was appointed MD of Trent, a company set up by the group in 1998 for the retail business. Mr Noshir A Soonawala, as per Tata Sons website, is vice-chairman of the holding company. Apart from being from Tata family, Noel is also the son-in-law of Mr Pallonji Mistry, who is believed to have 18 per cent stake in Tata Sons. — PTI

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