Change at the Top: Tata Trusts Remove Key Trustee Amid Governance Shake-Up
When late Ratan Tata was the chairman of Tata Trusts, he was always keen that all decisions be taken unanimously. A year after his passing, a vote at Tata Trusts has now pushed out one of his most trusted aides from Tata Trusts.
Ratan Tata’s loyalist has no place in Tata Trusts
It’s a major shake-up at the heart of one of India’s most respected business and philanthropic institutions. The Tata Trusts have voted to remove Mehli Mistry from his long-standing role as trustee. The decision came after a vote by the majority of the trust’s board members who declined to renew his term.
Mistry, once considered a close confidant of the late Ratan Tata and an important figure within the group, now finds himself out of the position. It marks a sharp turn in what many observers call a behind-the-scenes power struggle within the Tata ecosystem.
Why does this matter?
The Tata Trusts are not some small charity. We are talking about the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, which control a significant share of the Tata empire. The two key trusts collectively hold around 66 percent of Tata Sons, which is in turn the parent of major companies like Tata Steel, Jaguar Land Rover, Air India and others. Because of this, decisions about trust-board appointments matter a lot: they affect who has influence over business strategy, governance and big financial moves.
The immediate dispute began with trustee votes over re-appointments and board seats. One side, led by current chairman Noel Tata along with other senior trustees, opposed Mistry’s continuation. On the other side were trustees aligned with Mistry and part of Ratan Tata’s inner circle.
In September, the disagreements became public when a vote challenged the usual unanimous process. A trustee aligned with Mistry opposed the re-appointment of a nominee from Noel Tata’s camp to the Tata Sons board. That triggered concerns, and now the vote has gone against Mistry’s term renewal.
Who is Mehli Mistry?
The 65-year old was a part of Ratan Tata’s inner circle for decades. He was appointed trustee in 2022. He was known for his loyalty to Ratan Tata who he considered his mentor as well. Their friendship was forged over shared Parsi roots and living in the same complex in Colaba over the years. It was Mistry who executed Ratan Tata’s will.
For Mistry, the consequences are personal and professional. He had been viewed as Ratan Tata’s trusted aide, and his removal puts a spotlight on how quickly alliances can change when big companies, large trusts and enormous funds are involved.
In a larger canvas, this reflects an internal shift in power. For the Tata group and its broader ecosystem, this moment matters. Beyond reputations, it affects how decisions will be made going forward: how trustees are chosen, how transparent the process is, what checks and balances exist, and how this could impact company governance.