Committee formed under the chairmanship of Ratan Tata
Will there be any upheaval in the Tata Group, the country’s largest industrial house? This question arose because Tata Trusts, which controls the Tata Group, has formed a special executive committee. Ratan Tata has been made the chairman, while many other big names associated with the company are included in it. Now this committee will take all the important and major decisions related to the company.
In an ET report, citing sources, it has been said that the vice-chairmen of this special executive committee of Tata Trusts are Venu Srinivasan and Vijay Singh. Trustee Mehli Mistry also figures on it.
What is the reason for forming the committee?
ET has said in its report that the purpose of forming this committee is to take quick decisions in day-to-day work so that there is no need to take consent of the entire board of directors on every decision. There are a total of 18 trustees in different trusts associated with Tata Group.
Tata Sons is the holding company of Tata Group, in which Tata Trusts has the controlling authority. In such a situation, Tata Trusts plays a role in making important decisions of Tata Sons and Tata Group in general. Apart from this, many different trustees also have stake in Tata Sons.
There have been many changes in Tata Trusts
Meanwhile, Tata Trusts Chief Operating Officer Aparna Uppaludi has resigned from her position due to personal reasons. She was given this responsibility about a year ago, in April 2023. She was the first to hold this position. At the same time, Siddharth Sharma was appointed as the CEO of Tata Trusts, who currently remains in his position.
However, Tata Trusts has not issued any separate statement regarding this entire incident.
How big is Tata Trusts?
Tata Trusts owns a 66 per cent stake in Tata Sons, the holding company of Tata Group. Tata Trusts is a welfare trust formed by members of the Tata family. This includes many other trusts associated with members of the Tata family. The largest trusts are Sir Dorabji Tata Trust and Sir Ratan Tata Trust. Currently, the head of Tata Trusts is 87-year-old Ratan Tata. He is also the honorary chairman of Tata Sons.
