Mehli Mistry unlikely to be reappointed as trustee on Tata Trusts Board: Sources

The reappointment of Mehli Mistry as a trustee on the Tata Trusts board appears unlikely, with sources close to Tata Group telling CNBC-TV18 that at least three trustees have voted against the move.

The development points to a rare division within the powerful body that oversees the Tata Group’s controlling stake in Tata Sons.

According to people familiar with the matter, all trustees of Tata Trusts submitted their views on Mistry’s reappointment ahead of the expiry of his term on October 28.

Under the governance framework of the Trusts, a trustee’s reappointment requires unanimous consent from all members. Even a single dissenting vote can block the process, a condition that now appears to have come into play.

CNBC-TV18 had earlier reported on October 27 that Mistry’s term as trustee was set to conclude on October 28, and the process to extend his tenure was still underway. The Trusts had circulated a resolution seeking unanimous approval from all trustees to renew his term.

Mistry, a long-time associate of Tata Sons Chairman Emeritus Ratan Tata, joined the Tata Trusts board in 2022 following a restructuring of its leadership. His inclusion came as part of a broader effort to refresh the Trusts’ governance and strengthen oversight of the Tata Group’s philanthropic and strategic interests.

However, the latest turn of events indicates internal differences over his continuation. The voting process, conducted through a circular resolution, appears to have revealed divergent opinions among the trustees — an uncommon occurrence in the Trusts’ history of largely consensus-driven decision-making.

Tata Trusts, which together own a majority stake in Tata Sons, has not commented publicly on the reappointment process.Read about our editorial guidelines and ethics policy