About 66% of Tata Sons' equity capital is held by the trusts, which were donated by members of the Tata family and include the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust. Ratan Tata, who is 87 years old, is the Chairman Emeritus of Tata Sons and the Chairman of Tata Trusts.
In line with measures for governance and succession planning, Vijay Singh and Venu Srinivasan, who were appointed as vice chairmen in 2018, represent Tata Trusts on the board of Tata Sons.
According to those acquainted with the matter who spoke to The Economic Times, Tata Trusts has appointed Chairman Ratan Tata, Vice-Chairmen Venu Srinivasan and Vijay Singh, as well as Trustee Mehli Mistry to an executive committee.
As per an ET article, the committee's purpose is to simplify daily decision-making procedures without requiring complete board approvals, tackling the intricacy that arises from having more than 18 trustees across many trusts.
Organizational changes have recently taken place at Tata Trusts, which owns a majority share in the holding company of the Tata Group, Tata Sons. Citing personal reasons, Aparna Uppaluri has resigned from her role as Chief Operating Officer. Since Uppaluri and Siddharth Sharma were appointed in April 2023, Sharma has remained in his position as CEO.
About 66% of Tata Sons' equity capital is held by the Trusts, which were donated by members of the Tata family and include the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust. Ratan Tata, who is 87 years old, is the Chairman Emeritus of Tata Sons and the Chairman of Tata Trusts.
As part of its continuing attempts to reorganize and shift towards outcome-based financing, Tata Trusts is apparently looking to replace Uppaluri, with an emphasis on scalable and quantifiable effect via public-private partnerships.
Reputed for having a strong relationship with Ratan Tata, Mehli Mistry joined Tata Trusts in October 2022 and has actively participated in trust management.
According to legal experts, the study also states that executive committees such as this one are allowed under certain circumstances specified in Section 47 of the Indian Trusts Act. They ensure that trustees continue to have oversight and responsibility over committee activities, while also facilitating operational efficiency.
On the Tata Sons board, Vijay Singh and Venu Srinivasan, who were chosen as vice-chairmen in 2018, represent Tata Trusts in accordance with efforts related to succession planning and governance.
Tata Trusts refrained from commenting on the issue, and Moneycontrol's independent verification was unavailable.
Additionally, sources close to the trusts informed ET that Ratan Tata's leadership is spearheading a strategic change in charitable endeavors with a continuing move towards proactive project execution.
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