Tata Trusts, in an official statement, confirmed the appointment of Noel Naval Tata as its new chairman after the demise of Ratan Tata, who served as esteemed chairman of Tata Group for decades and Chairman of the trust. With the death of Ratan Tata in Mumbai on Wednesday, the $165 billion Tata Group faced the significant task of appointing a new leader. Noel, Ratan Tata's half-brother, was widely seen as the frontrunner for the role. According to the statement from Tata Trusts, the Trustees of various Trusts that comprise the Tata Trusts met at a joint meeting held in Mumbai on Friday. They condoled the demise of 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 Noel Naval Tata as the Chairman of the various Trusts that constitute the Tata Trusts and also designate him as Chairman, Tata Trusts.
Why Jimmy Tata did not succeed Ratan Tata as Tata Trust chairman?
Not many people know about Ratan Tata’s younger brother Jimmy Naval Tata. Jimmy Tata is not as publicly known as his elder brother, Ratan Tata. Jimmy has played a more supporting role in the family firm, even though Ratan Tata guided it to international renown. He was less involved in the daily activities.
Known for his humble lifestyle, Jimmy Tata is the younger brother of Tata Sons’ chairman emeritus Ratan Tata. Unlike his brother, Jimmy Tata is media shy and refrain from getting public attention. Ratan Tata and his brother share a deep connection that was seen when Ratan Tata took to social media to post a throwback black-and-white photo of himself with his brother Jimmy Tata, wishing the latter a happy birthday. The photo was clicked in 1945 when Ratan Tata said that “nothing came between” the two brothers.
Jimmy Tata Stake In Tata Group
Jimmy holds a significant stake in a number of Tata firms, including Tata Motors, Tata Steel, Tata Sons, and Tata Consultancy Services (TCS), while not being active in day-to-day business operations. He has made the decision to lead a modest and uncomplicated life in spite of his wealth.
Jimmy Tata is a wealthy man despite leading a modest life thanks to his ownership of the Tata Group. However, he has opted to lead a modest life, out of the spotlight, and focused on personal fulfilment rather than material prosperity, much like the values of the Tata family.
