By 
Noel Naval Tata has been named the successor of Ratan Tata at Tata Trusts, the majority owner of Tata Sons — the holding company of the Tata group. He will now guide the $ 165 billion conglomerate at a time when the group faces several challenges globally and domestically.
In a statement issued on Friday, Tata Trusts said, “The Trustees of various Trusts that comprise the Tata Trusts met at a joint meeting held in Mumbai today. They condoled the demise of Mr. Ratan N. Tata, Chairman, Tata Trusts, and recalled his yeoman services not only to the Tata Group but also to nation building. In separate meetings held immediately, thereafter, it was unanimously decided 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. His appointment comes into place effective immediately.”
Speaking on this occasion, Noel Naval Tata, Chairman, Tata Trusts, stated – “I am deeply honoured and humbled by the responsibility that has been cast on me by my fellow Trustees. I look forward to carrying on the legacy of Mr. Ratan N. Tata and the Founders of the Tata Group. Founded more than a century ago, the Tata Trusts are a unique vehicle for undertaking social good. On this solemn occasion, we rededicate ourselves to carrying on our developmental and philanthropic initiatives and continuing to play our part in nation building.”
