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 Recently, reports said the income tax department had withdrawn tax exemption to Sir Dorabji Tata Trust due to the `2.66 crore annual compensation of Venkataramanan.