After months of discord, the Tata Trusts appear to be moving towards reconciliation, with recent reappointments and open exchanges signalling a return to cooperative governance.
Noel Tata -- the half-brother of late Rata Tata -- who takes over as chairman of Tata Trusts, has been with the Tata Group for over four decades, slowly rising through the ranks in the salt-to-software conglomerate. Having functioned mostly under the shadows of his illustrious half-brother, Noel (67) will now have the responsibility of leading the Tata Trusts -- broadly comprising Sir Ratan Tata Trust & Allied Trusts, and Sir Dorabji Tata Trust & Allied Trusts -- that hold a controlling 66 per cent stake in Tata Sons, the holding and promoter firm of Tata Group companies.
A half-brother of Ratan Tata, Noel will step down as the MD of the group's retail venture, Trent Ltd
Tata Consultancy Services has divested its 40 per cent stake in business process outsourcing firm Sitel India to US-based Sitel Corporation for $17.732 million.
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