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Noel Tata joins Sir Ratan Tata Trust (Reissuing with correction)

IANS  |  Mumbai 

In a move that will bring back the family into the Trusts, Noel Naval was on Wednesday appointed as a to the

A previous IANS story had incorrectly said that has been appointed as the of

is the second largest trust among the dozen-odd charities that make up the

is the half-brother of former and Ratan Tata, and is currently the of and of

Along with Noel Tata, long standing philanthropist Jehangir H.C. Jehangir has also been roped in as a of the Sir Ratan Tata Trust. Jehangir is spearheading the mission at the in Pune.

It is being speculated that Noel Tata, 61, is being groomed to succeed Ratan Tata as the of His current assignment is being seen as a precursor to the move that would ensure that retains the signature Tata name.

Noel Tata's brother-in-law, Cyrus Mistry, was named the Chairman of in 2011, a position he held till 2016 before being removed unceremoniously. At that time too, Noel Tata's name surfaced as a top contender for the post. But the position went to N. Chandrasekaran, the then (TCS)

The decision to rope in came on a day when R. Venkataramanan, the Managing of Tata Trusts, announced his decision to resign from the post after completing his 5-year tenure.

"placed on record the significant contribution of Venkataramanan in steering and executing the objectives of the Trusts' portfolios over the last five years," a Tata Trusts statement said.

Venkataramanan's resignation gains significance as he was subject to a CBI investigation last year for allegedly trying to manipulate government policies through corrupt means to get an international licence for

According to the statement, Venkataramanan had requested the Tata Trusts Chairman and trustees that since he was completing five years in the post and was exploring other options, he should be relieved from his responsibilities.

Accordingly, at a trustees' meeting held on Wednesday, his request was accepted. Venkataramanan will relinquish his duties on March 31.

A committee of trustees, comprising Tata Trusts Chairman Ratan N. Tata and Vice-Chairmen Vijay Singh and Venu Srinivasan, has been set up to oversee the operations and select a new to replace Venkataramanan.

Established in 1892, the Tata Trusts is the country's oldest philanthropic organisation that is engaged in the areas of and nutrition, water and sanitation, education, energy, rural upliftment, urban poverty alleviation, arts, crafts and culture.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 14 2019. 01:16 IST