MUMBAI: The Ratan Tata Endowment Foundation (RTEF) and the Ratan Tata Endowment Trust (RTET) are gearing up for some changes. Ratan Tata’s half-sisters, Shireen and Deanne Jejeebhoy, along with his half-brother, Noel Tata, will step in as trustees. This move shows that the Tata family will still have a say in managing Ratan Tata’s shares in Tata group companies.
These foundations were created a few years before Ratan Tata’s passing in October 2024 to manage his financial assets. Ratan Tata held 0.83% of Tata Sons, which is the main company in the Tata group. He also had stakes in Tata Digital, Tata Motors, and Tata Technologies. The shares and investments he owned are now under the care of RTEF and RTET. His overall estate is valued at over ₹10,000 crore.
RTEF is a section 8 company, while RTET operates under the Indian Trusts Act. Both are dedicated to supporting education and healthcare, focusing on helping those in need—causes important to Ratan Tata. They will have voting rights based on their stakes in Tata companies.
The governance structure of these organizations is changing. The current two-trustee setup will expand to six trustees for RTEF and seven for RTET. Tata Sons chairman N. Chandrasekaran is expected to take on the role of managing trustee for both entities, which positions him as a key figure. However, he cannot serve as the chairman due to restrictions in Tata Sons’ articles of association.
Currently, RTEF has two trustees: former Tata Sons executive Raghavan Shastri and ex-Tata Realty director Burzis Shapur Taraporevala. RTET’s trustees include Darius Khambata and Pramit Jhaveri, who will likely step down due to their commitments elsewhere. Legal head Sidharth Sharma from Tata Sons will join RTET as a trustee, bringing more expertise to the team.
Jamsheed Poncha from Chandrasekaran’s office is set to be the CEO of both foundations. While Poncha will receive compensation for his role, Chandrasekaran will not take a salary as managing trustee, marking a first for a Tata Trust to have both a managing trustee and a CEO.
The executors of Ratan Tata’s will include Shireen and Deanne Jejeebhoy, along with Darius Khambata and trustee Mehli Mistry. Apart from Mistry, all of them will likely serve on the boards of RTEF and RTET.
These changes signal a new chapter for Ratan Tata’s legacy, continuing his commitment to social causes that matter most to him.
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