Noel moves up in Tata hierarchy

Noel N Tata,half-brother of Tata group chief Ratan Tata,has moved up in the group hierarchy with Tata International Ltd which controls the overseas business of the group appointing him as the managing director. The younger Tata,53,was appointed non-executive chairman of Tata Investment Corp Ltd,a listed investment firm which has substantial stakes in Tata group companies,in hellip;

Noel N Tata,half-brother of Tata group chief Ratan Tata,has moved up in the group hierarchy with Tata International Ltd which controls the overseas business of the group appointing him as the managing director. The younger Tata,53,was appointed non-executive chairman of Tata Investment Corp Ltd,a listed investment firm which has substantial stakes in Tata group companies,in June this year. With the latest appointment,speculation is rife in corporate circles that Noel will turn out to be a strong contenders for the chair currently being occupied by Ratan Tata.

There is an age limit of 75 for serving as non-executive chairman in the Tata group and Ratan Tata8217;s term is scheduled to end in 2012. In 2006,group holding company Tata Sons decided to raise the retirement age of non-executive directors from 70 to 75. Ratan Tata had last year said the group was in the process of formalising a successor to him. 8220;We have some outside consultants and a formal search process is on. There are no constraints. We are looking both within the organization and outside. The successor,I would hope,would have integrity and our value systems in the forefront and carry on the path that we have tried to set for the company8217;s growth,8221; he said in an interview last year.

Following the new role,Noel Tata has stepped down as the managing director of Trent,the retail arm of the Tata group. Noel Tata has overseen the profitable growth of Trent from a single store company in 1998 to over 90 stores across its retail formats Westside,Star Bazaar,Landmark,Fashion Yatra,Sisley and Zara. During this period,Trent has entered into a strategic franchise and sourcing agreement with the well-known international retailer Tesco of UK for the Star Bazaar business. Under Noel Tatas leadership,the consolidated turnover of Trent has increased from Rs 8 crore in FY 1998-99 to Rs. 1,137 crore in FY 2009-10. Trent has established its presence in all major apparel market segments and is considered one of the leading organised retailers in India, the Tata group said.

Noel will have greater role as the MD of Tata International which is in a wide range of businesses including leather and trading of a variety of products like minerals,steel,ferroalloys and engineering products. Through its 100 held subsidiary Tata Africa Holdings Ltd.,it is present in 11 countries in Africa engaged in distribution and marketing of commercial vehicles and other products,in general trading and acting as the lead arm to help other Tata group companies enter the growing African market. Tata International is also present in China,South East Asia and West Asia.

Under Noel Tata,Tata International is expected to take on an aggressive growth path,strengthening its leather business by organic expansion and through acquisitions,looking to acquire resources and trade in minerals,further consolidate and grow its position in Africa and enter new geographies, the Tata statement said.