Tata Trusts has reappointed Venu Srinivasan as a trustee for life, with attention now turning to Mehli Mistry’s pending renewal amid reported internal divisions within the organization. Srinivasan’s reappointment, which occurred this week ahead of his term’s expiration on October 23, was unanimous, according to a source familiar with the situation. This decision comes as divisions reportedly emerge within Tata Trusts, with one faction aligning with Noel Tata, who succeeded Ratan Tata as chairman, while another faction is believed to be loyal to the former chairman. Tata Trusts has not publicly commented on these developments. The spotlight now shifts to Mistry, whose term concludes on October 28.
There are differing opinions regarding whether his reappointment is automatic or necessitates unanimous approval from the trustees for a lifetime position. Tata Trusts, which oversees various charitable trusts such as the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, holds a 66 percent stake in Tata Sons, the holding entity of the 156-year-old Tata Group, which encompasses around 400 companies, including 30 publicly listed entities. According to one source, reappointment and fresh appointments historically require unanimous consent. Another source, however, contends that reappointment is automatic for all trustees.
Minutes from a joint meeting of the trustees of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust on October 17, 2024, indicate that upon a trustee’s term expiration, reappointment would occur without any limit on tenure length.
