In ladder of succession, Noel Tata takes a step up

Jul 30, 2010 - Age Correspondent |

mumbai

Noel Tata, half-brother of Tata Group chairman Ratan Tata, has been appointed managing director of Tata International, which promotes the Tata brand overseas.
The appointment, made known through a stock exchange filing on Thursday, comes a month after he was made non-executive chairman of Tata Investment Corp Ltd, which has a major stake in group companies.

Mr Noel Tata’s new appointment has fuelled speculation again about the possibility of his succeeding Mr Ratan Tata, who is 72 and not due to retire till 75.
The 53-year-old Noel Tata proved his business acumen as managing director of Trent, making it one of the country’s top lifestyle stores. It was started by his mother Simone, wife of Naval Tata (Ratan’s father), who earlier launched Lakme and then sold it to HLL.
It was earlier widely believed that Noel would succeed Ratan Tata, but the latter was insistent that the group’s top post was open to any professional, including a foreigner. This was seen as a setback for Noel, but he quietly continued to build Trent, now known as Westside. Noel is the son-in-law of Pallonji Shapoorji Mistry, a construction mogul who has a 18 per cent stake in Tata Sons and is the single largest shareholder.

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