Noel Tata worries market listing will change the 'Tata way'
Tata Trusts chairman says the group’s owner “cannot die, cannot be bought and cannot retire”, and the Trusts will work with regulators to keep it that way.
Chairman of Tata Trusts, Noel Tata, expressed concern on Saturday that listing Tata Sons could change the group's operating style. He warned that with a large number of shareholders, profit may eventually take precedence over philanthropic efforts. Tata emphasized that the Tata way is built on the principle that charity comes before commerce, stating that profits from group companies are directed towards future hospitals, libraries, educational institutions, and crisis relief.
This approach is supported by the fact that Tata Sons is controlled by the trust, which cannot change due to the continuous ownership of Ratan Tata. Tata also highlighted that a private Tata Sons would act as a safety net for group companies facing difficulties. He cautioned that listing would introduce outside investors with different priorities, potentially altering the group's focus.
Tata reiterated his stance that the trust will work with regulators to find a solution that preserves the Tata way while acknowledging the trust's dual roles in direct philanthropy and investing in national importance projects.
Written by urgent.news from Hindustan Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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