Tata Trusts reappoint Venu Srinivasan for life, reaffirming lifetime tenure policy for trustees: Report

The decision, finalised on Monday, effectively settles recent differences over governance issues in the Tata Trusts, The Times of India reported.

The move follows the lifetime reappointment of trustee and chairman Noel Tata in January 2025.

The two main Tata Trusts together hold a 52% stake in Tata Sons, the holding company of the Tata group.

Lifetime reappointments reaffirmed

According to The Times of India, the reappointment of Srinivasan was expected after the Trusts unanimously passed a resolution on October 17, 2024, stating that “on expiry of tenure of any trustee, that trustee will be reappointed by the concerned Trust without any limit being attached to the period of tenure of such reappointment.”

The same resolution declared that any trustee voting against a fellow trustee’s reappointment would be “in breach of their commitment and unfit to serve” on the boards of the charities.

This effectively ensured that all trustees of SDTT and SRTT serve for life.

Fellow trustee Mehli Mistry’s reappointment is also expected in the coming days, The Times of India reported.

‘All Tata trustees serve for life’

At the October 17 meeting, trustees resolved that they were all “equally responsible” and “charged with public duty and specifically tasked by Mr Ratan N Tata.”

This made reappointments largely a formality, the report noted.

Past trustees such as JRD Tata, Ratan Tata, Jamshed Bhabha, and RK Krishna Kumar had all served until their deaths.

While some, including Noshir Soonawala, stepped down due to age or health, others have had fixed three-year terms that were periodically renewed.

Governance norms and succession

The Times of India reported that the October 17 meeting also established that directors nominated by the Trusts to the Tata Sons board would be reviewed once they reached 75 years of age.

During the same meeting, the Trusts nominated Noel Tata to the Tata Sons board, shortly after he succeeded his late half-brother Ratan Tata, who passed away on October 9, 2024.

The resolution further stated that any breach of the commitment to lifetime reappointment would trigger a review of all resolutions passed at that meeting, ensuring that trustees could not selectively apply parts of the decision, The Times of India reported.

Apart from Noel Tata, Srinivasan, and Mehli Mistry, the boards of SDTT and SRTT include Vijay Singh, Pramit Jhaveri, Darius Khambata, and Jehangir Jehangir.

The first four also form the executive committee, which manages Tata Sons’ shareholding and the Trusts’ operational affairs.

Internal differences surface

According to The Times of India report, differences among trustees came to light last month after the Trusts reviewed the positions of nominee directors on the Tata Sons board who had turned 75.

Vijay Singh’s directorship was reconsidered, and after losing majority backing, he stepped down.

Although Mehli Mistry was proposed as his replacement, Noel Tata opposed the move, leading to Singh’s resignation.