Mehli Mistry is poised to depart from the Tata Trusts as a majority of trustees have voted against extending his tenure on the boards of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust. His three-year term is scheduled to conclude on October 28.
Recent reports revealed that a circular resolution circulated last week led to three out of six trustees—Chairman Noel Tata, Venu Srinivasan, and Vijay Singh—objecting to Mistry’s reappointment. On the other hand, Darius Khambata, Pramit Jhaveri, and Jehangir H.C. Jehangir supported his continuation. The split decision resulted in the rejection of extending Mistry’s term.
Mistry, who became a part of both trusts in 2022, is known to have a close relationship with the late Ratan Tata. The Sir Dorabji Tata Trust and the Sir Ratan Tata Trust collectively hold the largest stake in Tata Sons and wield significant influence in board appointments and governance throughout the Tata Group.
The differences among trustees have been widening in recent months. In September, a proposal to reappoint Vijay Singh as a nominee director on the Tata Sons board did not receive unanimous backing, leading to his resignation. Mistry was among the trustees who opposed Singh’s continuation, setting the stage for the current situation.
Moreover, disagreements persist within the Trusts regarding the interpretation of a resolution passed in October 2024 concerning trustee tenure. While some trustees see the resolution as allowing for reappointment without a fixed limit, others argue that reappointments should be approved each term.
Although Venu Srinivasan was recently reappointed with support from both factions, Mistry had suggested that trustee renewals should require unanimous agreement moving forward, a proposal that was not accepted by the majority.
The Trusts are now expected to commence the search for a successor to Mistry on the governing boards. Subsequent decisions regarding board nominations to Tata Sons are anticipated in the upcoming months.