According to the Economic Times, Tata Trusts has elected Cyrus Mistry‘s cousin Mehli Mistry as a trustee on the boards of Sir Ratan Tata Trust and Sir Dorabji Tata Trust as part of its ongoing corporate governance enhancement exercise.

The report added that this happened even as Tata Trust announced that its first 60-year-old professional CEO, Srinath Narasimhan, had retired in 2020. The search for the next CEO is underway, with both internal and external candidates under consideration.

About 66% of the share capital of the group holding company Tata Sons comes from charitable trusts.
Sir Dorabji Tata and Ratan Tata hold 27.97% and 23.54% of Tata Sons, respectively, with the smaller subsidiary trust holding 14.32%.

Cyrus Mistry, the former chairman of Tata Group, was killed in a car accident on September 4. The accident happened at Charoti, Palghar when his Mercedes returned from Ahmedabad to Mumbai.