Tata Trusts Plans Mehli Mistry's Lifetime Reappointment

Tata Trusts, the leading stakeholder of Tata Sons, has put forth a proposal to reappoint Mehli Mistry as a lifetime trustee for its major philanthropic entities: the Sir Ratan Tata Trust, the Sir Dorabji Tata Trust, and the Bai Hirabai Jamsetji Tata Navsari Charitable Institution. This move follows the unanimous reappointment of Venu Srinivasan, who was supported by Mistry and other trustees.

However, Mistry and his fellow trustees have imposed a significant condition on future renewals: they must be unanimously approved. If unanimity is not achieved, their support will be retracted. This marks a shift from traditional practices, where decisions were made through consensus without voting during Ratan Tata’s leadership.

Mehli Mistry, a close associate of Ratan Tata, was first appointed as a trustee in 2022, and his current term is set to conclude on October 28. The backdrop of this latest proposal includes reports of internal divisions within Tata Trusts, with one faction aligned with the current chairman, Noel Tata, and another group led by Mistry, which comprises loyalists of Ratan Tata.

Mistry is part of Tata Trusts' four-member Executive Committee, which is currently chaired by Noel Tata. Vice Chairmen include Vijay Singh and Venu Srinivasan. Notably, Vijay Singh had to resign from the Tata Sons board last month after facing opposition from four trustees, including Mistry, Darius Khambata, Pramit Jhaveri, and Jehangir HC Jehangir.

The evolving dynamics within Tata Trusts reflect changing governance structures and underline the growing complexities in decision-making processes. As the organization navigates these internal tensions, the outcome of Mistry's reappointment could have significant implications for the future direction of Tata Trusts.