Noel Tata appointed chairman of Tata Trusts: Experts weigh in on the road ahead
Assuming his new role immediately, Noel Tata stated, “I am deeply honoured and humbled by the responsibility that has been cast on me by my fellow Trustees.” He also emphasised the importance of continuing the Trusts’ mission, adding, “I look forward to carrying on the legacy of Mr. Ratan N. Tata and the Founders of the Tata Group.
The Tata Trusts, founded over a century ago, are a unique vehicle for undertaking social good. On this solemn occasion, we rededicate ourselves to our developmental and philanthropic initiatives, continuing our contribution to nation-building.”
In the wake of this leadership transition, CNBC-TV18 spoke with Peter Casey, Author & Entrepreneur, and Girish Kuber, Editor of Loksatta, to explore the challenges and opportunities that lie ahead for Noel Tata in this significant role.
Below are the excerpts of the discussion.
Q: 48 hours after the passing of Ratan Tata, the Tata Trust have decided to appoint Noel Tata as the chairman of the Tata Trust. This, of course, also has context in the fact that after the amendment of the Articles of Association, post the Cyrus Mistry boardroom battle, the same individual cannot be the chairperson of Tata Sons and Tata Trust. In a way, while Noel Tata has been an insider, an old timer, a Tata lifer, this is a new innings for him. Let me start by asking you for your first reaction?
Casey: Noel will be an exceptional chairman of the Tata trust. I have met Noel quite a few times, and he has the same sort of humility and passion as Ratan Tata. Ratan Tata, of course, was very quiet and almost shy. But I think it’s a perfect alignment of the values of Tata. I am sure Noel will continue to represent everything that Tata stands for.
Q: Your thoughts as this new era begins? Ratan Tata was at the helm for over two decades, steered this disparate set of companies to make it a much more cohesive conglomerate. As the Noel Tata innings begins, your thoughts?
Kuber: There are two points I would like to underline. One is obviously, it will be, as Peter said, a continuation of values. The personality is the same, the traits are the same, the qualities are the same. That’s one. Secondly, I am looking at the media and the reaction and who is Noel Tata and everything. The same thing happened when JRD was to relinquish the charge and young and not so known Ratan Tata was taking charge of the conglomerate. I think there is a similarity in that reaction also. And as we all know, Ratan Tata proved everybody wrong. I am sure Noel also will do the same. And that’s the beauty of the Tatas, when they’re at the helm, the person at the helm always gets a focus, and someone next in line is not known. He is away from the limelight, and at the right time, he comes at the center stage. That’s exactly what has happened.
Q: While the media is focusing on who Noel Tata is, let’s take a look at what Noel Tata has been able to do across the many companies within the Tata Group that he is steering forward. Trent has seen a meteoric rise under Noel Tata’s stewardship. So while we may not know too much about him because he chooses to stay away from the limelight, the business impact is significant?
Casey: The philanthropic impact of Tata has just expanded astoundingly, and it is one of the untold secrets. People don’t realise that Tata Sons is controlled by the Tata Trusts, which is now the largest philanthropic organisation in the world. It’s the most amazing blend of entrepreneurship and philanthropy.
I have said in my book, it really is the perfect citizen. It makes great returns for its shareholders, it gives back to society and really looks after its employees. We are living in a world of a lot of corporate greed and a lot of lack of ethics, but Tata embodies everything that a perfect company should be – give back to society and create entrepreneurial activities and look after their employees as well.
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