Tata Trusts has named Neville Tata, the son of Noel Tata, who chairs Tata Trusts, and Bhaskar Bhat, a seasoned member of the group, as new trustees of the Sir Dorabji Tata Trust (SDTT), as per a report from The Economic Times. During a recent meeting, the board also adjusted Venu Srinivasan’s tenure from lifetime to a three-year term in compliance with a new rule set by the Maharashtra government, which restricts the number of lifetime trustees permitted.
This alteration directly impacts the longstanding governance framework of Tata Trusts, as stated in the report. The adjustment reinforces Noel Tata’s authority within the organization and signifies Neville Tata’s ascent, at the age of 32, to a significant leadership position within the Tata network.
Neville, a graduate of Bayes Business School, entered Trent in 2016 and subsequently led Zudio, the rapidly expanding value fashion chain of the group. Notably, he currently holds positions on the boards of the JRD Tata Trust, Tata Social Welfare Trust, and RD Tata Trust, and there is potential for his inclusion in the Sir Ratan Tata Trust (SRTT).
Bhaskar Bhat, aged 71 and an alumnus of IIT Madras and IIM Ahmedabad, commenced his career at Godrej & Boyce before transitioning to the Tata Watch Project, which later evolved into Titan Company. Serving as Titan’s managing director from 2002 to 2019, he guided its expansion into jewelry, eyewear, and accessories, contributing to the company’s market capitalization reaching approximately USD 13 billion.
Tata Trusts refrained from providing comments on this development, according to the report.