Tata Group updates trust system following Ratan Tata's death

Noel Tata's Tata Group has changed its trust system following the death of Ratan Tata. The Sir Ratan Tata Trust and Sir Dorabji Tata Trust will now have permanent board members, ending fixed-term appointments. New members will only be appointed with the consent of all current trustees. The trusts hold a majority stake in Tata Sons, which is valued at $165 billion and oversees various Tata Group businesses. Noel Tata has chaired his second board meeting since taking over after Ratan Tata's passing on October 9. The trusts are key to the group's philanthropic efforts and governance.