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In a major reshuffle in the Tata Group, Neville Tata has been appointed as the trustee of Sir Dorabji Tata Trust, while Bhaskar Bhatt has also been included in the board. Tata Trusts has reduced the lifetime tenure of Vinu Srinivasan to three years. Neville Tata, who has led Star Bazaar and Judio, is playing a strong role in the organization as the new generation of the Tata family.
New Delhi. A major step has been taken regarding the next line of succession and leadership in the Tata Group. According to the news of CNBC-TV18, Noel Tata’s son Neville Tata has been appointed as the trustee of Sir Dorabji Tata Trust. This decision was taken in the board meeting of Tata Trusts held on Tuesday, 11 November. This was the same meeting which was held for the first time after Mehli Mistry was removed from the post of director. Neville Tata is currently the head of Tata Group’s retail supermarket chain Star Bazaar. He has also taken India’s fast-fashion brand Zudio to the heights of success, which is considered one of the biggest growth stories in the country’s retail sector.
On the other hand, Tata Trusts has reduced the tenure of Venu Srinivasan from life to three years. This change has been made as per the new rules of Maharashtra Government, in which the number of lifetime trustees has been limited. Let us tell you that along with Neville, Bhaskar Bhatt has also been included in the board of Sir Dorabji Tata Trust.
Who is Neville Tata?
32-year-old Neville is a graduate of Tata Bayes Business School. He started in the packaged foods and beverages vertical at Trent Ltd. in 2016, but soon took over the reins of the Zudio brand. He is also a member of the boards of JRD Tata Trust, Tata Social Welfare Trust and RD Tata Trust. There is a possibility that they may soon be included in the Sir Ratan Tata Trust, which together holds more than 51 percent stake in Tata Sons. Neville and his sisters Maya and Lia maintain a very low-profile in their professional life. He married Manasi Kirloskar in 2019.
Who is Bhaskar Bhatt?
Bhatt is an alumnus of IIT Madras and IIM Ahmedabad. 71-year-old Bhatt started his career with Godrej & Boyce, after which he joined the Tata Watch project. This project later became Titan Company. Bhatt served as managing director of Titan from 2002 to 2019 and expanded the company beyond watches to eyewear, jewellery, fragrances, accessories and sarees. According to the report of MoneyControl, during his tenure, the market capitalization of Titan had reached about $ 13 billion.
