Why Noel Tata’s nomination for top job at Tata Sons could be a master stroke!
Zee Media Bureau
New Delhi: Amidst speculations on who will take charge of Tata Sons after the ouster of Cyrus Mistry last month, Ratan Tata's half brother Noel Naval Tata's name is emerging among the top contenders.
However, this is not the first time that Noel Tata's name has been speculated to take over the top job at Tata sons.
Noel Tata's was among frontrunners for top job at Tata Sons in 2012 when then Tata Group Chairman Ratan Tata was ending his tenure.
With Noel's name doing the round again for corner office at Tata Sons, it could well be said that it might be a master stroke by the Tatas.
In an interview to an overseas publication in May 2011, Ratan Tata had suggested that he did not think Noel was ready for the role.
“I think if he is to run this, he should have greater exposure than he has had. Partly his not having it has been his own choice,” Tata was quoted as saying.
A Business standard report had said Noel was always a “reluctant dynastic heir” who was never “interested in the top job”.
“He was also quite all right with letting his brother-in-law, who is 10 years younger to him, walk away with the crown,” it wrote.
In a sudden and dramatic turn of events, Cyrus Mistry was on October 24 sacked as Chairman of India's largest conglomerate Tata Group and replaced by his predecessor Ratan Tata in the interim.
Mistry's family firm Shapoorji Pallonji Group, has 18.4 percent in Tata Sons –the holding company of USD 100- billion salt-to-software conglomerate.