Tata Trusts to seek trustee nod for Mehli Mistry’s re-appointment; Venu Srinivasan re-appointed for life

Tata Trusts will soon seek approval from all trustees for the reappointment of Mehli Mistry to the Sir Dorabji Tata Trust Board, sources close to the Tata Group told CNBC-TV18.

Mistry’s term ends on October 28, and his re-appointment will require unanimous approval from all trustees. If cleared, he will serve as a lifetime trustee, with the position subject to review once he turns 75.

Separately, Venu Srinivasan, Chairman Emeritus of TVS Motor Company, has been re-appointed as a lifetime trustee on the Sir Dorabji Tata Trust Board. Tata Trusts has already circulated a note seeking approval from all trustees for Srinivasan’s renewal, with responses due by October 23.

The Sir Dorabji Tata Trust and the Sir Ratan Tata Trust together hold a 51% stake in Tata Sons, while the Shapoorji Pallonji Group holds around 18%. Srinivasan serves as a trustee in both Tata Trusts and is also a nominee director on the Tata Sons board.

The latest trustee renewals come amid reports of internal differences within Tata Trusts, which collectively control about 66% of Tata Sons. However, people close to the development have dismissed talk of a rift, saying differing opinions are normal in large organisations.

Experts have also reiterated the need for stronger governance at Tata Sons, with some backing a potential listing of the holding company to improve transparency and give minority shareholders an exit route.