He induction took place followed by Trust made announcement of the retirement of its first professional CEO Srinath Narasimhan, who was appointed in 2020. He is a citizen of United Kingdom and a confidant of Ratan Tata. Late Cyrus Mistry and Mehli’s mothers are sisters
Mehli Mistry named as a director of Meherji Pallonji group on board of Dorabji Tata Trust and Ratan Tata Trust. Such move is considered a part of its ongoing corporate governance strengthening exercise and succession planning.
He induction took place followed by Trust made announcement of the retirement of its first professional CEO Srinath Narasimhan, who was appointed in 2020. The position CEO is still vacant and the search is on. Also, both internal and external candidates are being looked at, according to an official.
Recently, many speculations had come out on the possible inclusion of Mehli Mistry. He is a citizen of United Kingdom and a confidant of Ratan Tata. Late Cyrus Mistry and Mehli’s mothers are sisters, however the cousins were not close.
With interests varying from paint distribution to logistics, travel, automotive dealership, Mehli Mistry runs about a dozen companies.
The first change, as a part of its recent corporate governance exercise, was implemented when Tata Trusts chairman was barred from being the Tata Sons’ chairman. Due to the trust deed requiring amendment, the articles of association was first amended for Tata Sons.
At around 66 per cent of the equity capital of Tata Sons being the group holding company, belongs to the philanthropic trusts endowed by members of the Tata family. The biggest of these are the Dorabji Tata Trust and the Ratan Tata Trust.
Tata Trusts is headed by chairman emeritus of Tata Sons, Ratan Tata who had been seeking legal advice to make sure that the interests of both institutions, the Tata Trusts and Tata Sons, are protected. He was the last person to be chairman of both Tata Sons and the Tata Trusts succeeding JRD Tata.