The proposed induction of Neville Tata to the board of the Sir Ratan Tata Trust has been pushed back after a scheduled meeting of the Trust, slated for Saturday, was cancelled, according to people familiar with the matter. The meeting was expected to consider, among other things Neville Tata’s appointment as a trustee, they added.
The meeting of the SRTT board was the only one to be cancelled while the board meetings of other Tata Trust entities scheduled for Saturday, including the Sir Dorabji Tata Trust and the Tata Education and Development Trust, went ahead as scheduled.
Historical Delays and Governance Friction
This is not the first time that Neville Tata, has encountered delays in joining the Sir Ratan Tata Trust. The latest setback follows an earlier round of appointments in November, when both he and Bhaskar Bhat, a long-serving Tata group executive and former Titan chief, were cleared for induction by the Sir Dorabji Tata Trust but did not make it to the board of SRTT.
Neville, the son of Tata Trusts chairman Noel Tata, has worked within the Tata Group, primarily in retail and consumer-facing businesses, and is widely credited for the success of the group’s fast fashion venture Zudio.
Queries regarding the development sent to Tata Trusts were not answered till press time.
Saturday’s development could indicate that there is some conflict brewing once again within the trustees of the Tata Trusts, those in the know suggested.
In November, both SRTT and SDTT were expected to consider a common slate of nominees. While the Sir Dorabji Tata Trust proceeded with the appointment of Neville and Bhat, the parallel proposal did not move forward at the SRTT meeting.
People aware of the discussions said trustee Venu Srinivasan had questioned the way the agenda items relating to the appointments had been placed before the board. As a result, neither Neville nor Bhat was inducted into SRTT at the time.
The delays have unfolded against a broader backdrop of internal differences within the Tata Trusts over recent months. These differences came into sharper focus following disagreements among trustees on governance and information-sharing issues, which eventually led to the exit of long-time trustee Mehli Mistry in October.
The months long tussle saw battle lines drawn between Mistry and Noel Tata and their supporters. Interestingly, at the time, Venu Srinivasan, and Noel Tata were seen as allies. Now, those close to the matter say, allegiances may be shifting.
Shifting Allegiances
The Sir Dorabji Tata Trust and the SRTT together form the bulk of Tata Trusts which holds 66% stake in Tata Sons, making appointments to their boards significant for the governance structure of the Tata group.