The Tata Group witnessed a major change on Tuesday with the entry of the next generation of the family. Noel Tata’s son, Neville Tata, has joined the board of the Sir Dorabji Tata Trust (SDTT). He will be one of the principal Tata Trusts. Bhaskar Bhat, a senior member of the Tata Group, has also been appointed as a trustee. In another significant move, Tata Trusts has revised the tenure of Venu Srinivasan from a lifetime term to three years. This is in line with the new Maharashtra government regulation that limits the number of lifetime trustees.
Neville’s entry into the Trust
Speculation over Neville’s entry into the Trusts’ main entity had been building since Mehli Mistry’s exit last month. This decision will take effect on Wednesday, November 12th. Tata Trusts’ move comes at a time when the Maharashtra government recently implemented a new ordinance, prohibiting all its members from being life trustees.
Under the recent Maharashtra government ordinance, the number of lifetime trustees in any trust cannot exceed one-quarter of the total number of trustees. In keeping with this rule, Srinivasan’s term has now been extended to three years instead of a lifetime.
Who is Neville Tata?
Neville Tata is the Face of the New Generation of the Tata Group. 32-year-old, son of Tata Trusts Chairman, Noel Tata, graduated from Bayes Business School in London. He joined Trent Limited in 2016, initially managing the Foods and Beverages vertical. He later became Business Head of the Zudio brand, which saw rapid growth in recent years.
Neville Tata currently serves on the boards of the JRD Tata Trust, Tata Social Welfare Trust, and RD Tata Trust. It has to be noted that SRTT and SDTT together hold over 51% of Tata Sons. According to a Times of India report, once inducted into SRTT, Neville could eventually be nominated to the Tata Sons board. In a brief statement, Tata Trusts said the SDTT board had “unanimously” approved Neville’s induction effective Nov 12 for a period of three years.
Who is Bhaskar Bhat?
71-year-old Bhaskar Bhat is a senior figure within the Tata Group. He was an alumna of IIT-Madras and IIM-Ahmedabad. Bhat began his career at Godrej & Boyce in 1978. He later joined Titan Company, where he served as Managing Director from 2002 to 2019. Under his leadership, Titan expanded its portfolio beyond watches to include jewellery, eyewear, fragrances, and saris, making it the second-largest listed company in the Tata Group.
Tata Trusts was established in 1892
Tata Trusts, established in 1892, is India’s oldest and one of Asia’s largest philanthropic organisations. It works in social sectors such as health, education, nutrition, water, and sanitation. With the entry of Neville Tata, it is now being considered the beginning of a new generation in Tata Trusts, which will take the responsibility of carrying forward the tradition of the Tata Group.
