Tata passed away on October 9 at the age of 86, and was succeeded by his half-brother Noel Tata as chairman of Tata Trusts. Ratan Tata, the late Chairman Emeritus of Tata Sons, appointed lawyer Darius Khambata and close associate Mehli Mistry as executors of his will,

Noel Tata, late Indian tycoon Ratan Tata's half-brother, was appointed last week to succeed him as chairman of Tata Trusts, a collective of philanthropic institutions that wield indirect control over the $165 billion Tata Group.

Noel Tata has been appointed chairman of Tata Trusts after Ratan Tata's death; Tata Trusts holds 66% of Tata Sons, giving influence over major decisions

The younger brother of the late chairman of Tata Sons, Ratan Tata, Noel Tata is also an exceptional businessman.

Sources suggest there is no hurry for Noel Tata, but changes are likely to start with the Trusts themselves, which hold 66 percent in the holding company, Tata Sons, which then holds stakes in Tata operating companies.