Even as Tata Group Chairman Ratan Tata 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 Delhi Metro Rail Corporation managing director, E Sreedharan, as a trustee.
The idea, insiders say, is to get independent and eminent people on the board of the trust, which, along with the Sir Ratan Tata Trust, owns 66 per cent in Tata Sons, the holding company of Tata Group firms.
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.
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 say 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.
A corporate lawyer close to the group said the trust was working on a five-year plan to focus on water, strengthening rural infra and health. Sreedharan’s inputs will be critical in making the plan, which will be in place by March next year.
