CHENNAI: Tata Sons Pvt Ltd, the $150 billion holding company of the Tata Group, will hold its 107th annual general meeting (AGM) on Thursday, where shareholders will vote on key board changes and other business matters.
A major item on the agenda is the appointment of Noel Tata as a non-executive director. Noel Tata, who became Chairman of Tata Trusts in October 2024, was nominated to the Tata Sons board by the Trusts and appointed as an additional director last year. His appointment now requires shareholder approval.
Shareholders will also vote on the reappointment of Venu Srinivasan and Saurabh Agrawal as directors, and on the appointment of Anita Marangoly George — co-founder and CEO of emerging markets growth fund Prosperete — as an independent director.
This AGM will be the first since the passing of Ratan Tata, marking a significant leadership transition. It will also see a stronger presence from Tata Trusts, which hold 66% of Tata Sons and have nominated six representatives to the board. Noel Tata, the largest individual shareholder with about 1% of the company, is expected to attend in his personal capacity as well.
Tata Sons’ executive chairman N. Chandrasekaran is likely to update shareholders on the planned initial public offering of Tata Capital Ltd, which is expected before September. The board has also recommended a dividend of Rs 64,900 per ordinary share, up from Rs 35,000 last year, taking the total payout to Rs 2,622.91 crore. Tata Trusts would receive about Rs 1,731 crore from this dividend to fund their charitable activities.
The Trusts have maintained their stance that Tata Sons should remain a private company. Talks with the Shapoorji Pallonji Group, which owns 18.4% of Tata Sons, about a possible stake sale are ongoing but without any final agreement yet.