Even as Mr Ratan Tata chairman of TATA Group readies for his retirement this month end, the group is taking steps to strengthen the board of its key trust, Sir Dorabji Tata Trust, by inducting former Mr E Sreedharan MD of Delhi Metro Rail Corporation as a trustee.
Insiders said that the idea is to get independent and eminent people on the board of the trust, which, along with the Sir Ratan Tata Trust, owns 66% in Tata Sons, the holding company of Tata Group firms.
Mr Sreedharan, 80, credited with making a success story of the Delhi Metro, was inducted within months of the announcement that Cyrus Mistry, son of construction czar Pallonji Mistry, would take over as the group's chairman.
Mr Ratan Tata in his new role as chairman emeritus of various TATA Group companies, would not attend board meetings. Instead, he would focus on philanthropic work.
Insiders added that the induction of non family members as trustees shows the group's openness to people from other fields who are respected for their exceptional work. More such appointments cannot be ruled out. An email sent to the Tatas yesterday did not elicit a response till going to press.
Source - Business Standard
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