Life after Ratan Tata: Trusts send six to Tata Sons AGM

The Tata Sons annual general meeting next week will feature six representatives from the parent Tata Trusts, including the three children of chairman Noel Tata, marking a change in how the Tata Group holding company has held annual shareholder meetings so far.

- Varun Sood & Satish John

Tata Sons' AGM, scheduled on 14 August at the Bombay House, the corporate office of the Tata Group, will be attended by the nine board members of Tata Sons, including Noel Tata, who is also the chair of Tata Trusts. Noel is the single largest individual shareowner of Tata Sons, owning 1% of shares. In addition to being a board member of Tata Sons, he will be attending the meeting in his personal capacity as a Tata Sons shareholder, according to an executive privy to the development.

The attendance is significant for two reasons. First, it marks a departure from the past when former chairman Ratan Tata was the sole representative of Tata Trusts at the Tata Sons shareholder meetings. Noel, who participated in the AGM proceedings, attended in his personal capacity.

In October last year, Noel took over as the chair of Tata Trusts after the demise of his half-brother, Ratan Tata.

However, 10 months into Noel's tenure, it appears that the philanthropic entities that own Tata Sons have no single individual wielding "absolute power", according to an executive.