Trent appoints Noel Tata as additional director
Last month, Noel became a non-executive chairman at Tata Investment Corp, a finance company with a portfolio of investments, including Tata MF.
By Agencies |
MUMBAI: Tata Group's retail venture Trent on Thursday said it has appointed Noel Tata as an additional director of the company with effect from today.
Tata will be the company's non-executive Vice-Chairman, Trent said in a filing to BSE.
The decision comes after July 29, when the company said that Noel Tata, half-brother of Ratan Tata, will step down as the Managing Director of Trent Ltd, on August 12 in view of his appointment as the Managing Director of Tata International Ltd.
The role of the 53-year-old Noel Tata just got bigger in India's biggest conglomerate on the 106th birth anniversary of JRD Tata, setting tongues wagging, yet again, on it being a step in the group's succession plan for top job.
Earlier this month, the reclusive Tata, who grew the retail business more than 10-fold in less than a decade, was appointed managing director at Tata International, a leather and engineering trading company with presence in 10 African nations, a region where it wants to double revenues to $1 billion in two years.
While Tatas are a household name in India, its increasing revenues from overseas markets and highprofile acquisitions such as Jaguar-Land Rover are yet to give it a kind of an international profile commensurate with its size.
Last month, Noel became a non-executive chairman at Tata Investment Corp, a finance company with a portfolio of investments, including Tata Mutual Fund.
The latest appointment may be to expose him to diverse business that the critics say he lacks experience in, despite making a success out of Trent, which was just a shell company.
Tata will be the company's non-executive Vice-Chairman, Trent said in a filing to BSE.
The decision comes after July 29, when the company said that Noel Tata, half-brother of Ratan Tata, will step down as the Managing Director of Trent Ltd, on August 12 in view of his appointment as the Managing Director of Tata International Ltd.
The role of the 53-year-old Noel Tata just got bigger in India's biggest conglomerate on the 106th birth anniversary of JRD Tata, setting tongues wagging, yet again, on it being a step in the group's succession plan for top job.
Earlier this month, the reclusive Tata, who grew the retail business more than 10-fold in less than a decade, was appointed managing director at Tata International, a leather and engineering trading company with presence in 10 African nations, a region where it wants to double revenues to $1 billion in two years.
While Tatas are a household name in India, its increasing revenues from overseas markets and highprofile acquisitions such as Jaguar-Land Rover are yet to give it a kind of an international profile commensurate with its size.
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Last month, Noel became a non-executive chairman at Tata Investment Corp, a finance company with a portfolio of investments, including Tata Mutual Fund.
The latest appointment may be to expose him to diverse business that the critics say he lacks experience in, despite making a success out of Trent, which was just a shell company.
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