Tata Trusts Managing Trustee R Venkataramanan quits

Venkataramanan will relinquish responsibilities as the Managing Trustee /Trustee of the Tata Trusts on March 31, 2019.

Published: 13th February 2019 08:41 PM  |   Last Updated: 14th February 2019 07:47 AM   |  A+A-

Pen

For representational purposes

By Express News Service

MUMBAI: Teh managing trustee of the Tata Trusts, R Venkataramanan, quit close to the completion of his five-year tenure, a statement from the Trust said on Wednesday. The statement said, “He had been considering other options,” and that the trustees of Tata Trusts in a meeting “regretfully accepted his request”. 

The Trust has also appointed Noel N Tata, Chairman of Trent Ltd. and Managing Director of Tata International, and Jehangir H C Jehangir, philanthropist, as trustee of Sir Ratan Tata Trust. 

“The Trustees placed on record the significant contribution of Mr Venkataramanan in steering and executing the objectives of the Trusts’ portfolios over the last five years. In addition to interventions through grants, the Trusts now also pursue large-scale programmes through direct implementation and partnerships with multiple state governments and foundations,” the statement said. 

Tata Trusts holds 66 per cent stake in Tata Sons, the group’s holding company. Recently, reports said the income tax department had withdrawn tax exemption to Sir Dorabji Tata Trust due to the `2.66 crore annual compensation of Venkataramanan.

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