New Delhi: Tata Trusts must always have a Tata family member as its head to perpetuate the goals envisioned by its founders and leaders, the author of late Ratan Tata’s biography, Thomas Mathew, said on Thursday, amid infighting in the Tata Trusts within a year after the death of the revered industrialist.
The current infighting in the Tata Trusts, however, is a “small difference of opinion” that happens during every transition, and these are just ‘side shows’ which won’t have an impact on such a big entity such as the house of Tatas, Mathew told PTI.
“Tata Trusts, according to me, should always have a Tata at its head. There’s no doubt regarding it because it is a trust of the Tatas meant to perpetuate the goals which these great personalities had envisioned,” he asserted.
Mathew was responding to a query on how he sees the legacy of late Ratan Tata and the Tata family moving forward on his first death anniversary.
When asked about the infighting in the Tata Trusts, Mathew termed it ‘side shows’ with no real threat to the conglomerate.
“A small bit of difference of opinion, etc, will happen during every transition, but the house of Tatas is so big and strong that these are side shows,” he asserted.
When pointed out that the matter has reached the government with the top brass of Tata Trusts and Tata Sons meeting Home Minister Amit Shah and Finance Minister Nirmala Sitharaman earlier this week, Mathew said, “That is all right, but nothing is going to happen to the group.” He, however, admitted, “I think these small differences this time should not have come out, but I think it’ll get resolved without much of a problem.” On Tuesday, top brass of the Tata group, Tata Trusts Chairman Noel Tata, Tata Sons Chairman N Chandrasekaran, Tata Trusts Vice Chairman Venu Srinivasan and trustee Darius Khambata met Union Home Minister Amit Shah and Finance Minister Nirmala Sitharaman amid infighting among trustees over board appointments and governance issues.
The infighting among the trustees of Tata Trusts threatens to impact the functioning of the over USD 180 billion conglomerate. Tata Trusts exerts decisive influence over India’s most valuable conglomerate through its about 66 per cent stake in Tata Sons, the promoter and holding company of the salt-to-semiconductor group.
Asked if the current crop of leaders in the Tata Group has been able to fully carry forward Ratan Tata’s legacy, Mathew said, “The present chairman (of Tata Sons) Chandrasekaran is completely devoted to the ideals of the Tata Group, and especially what Mr Ratan Tata stood for.” Mathew, who contrasted the response of the Tata Group to the Air India crash in Ahmedabad in June this year with the 26/11 terrorist attack in Mumbai that also hit Taj Hotel during which late Ratan Tata stood outside the hotel for three days and led the team tasked to give relief to those affected, said, “You cannot expect everybody to be like RNT (Ratan Tata).”