Accordingly, Trustees' meeting on Wednesday accepted Venkataramanan's request and he will relinquish his duties on March 31, 2019.
A committee of Trustees, comprising Tata Trusts Chairman Ratan N. Tata and Vice-Chairmen Vijay Singh and Venu Srinivasan, has been set up to oversee the operations and select a new chief executive to replace Venkataramanan.
"The Trustees placed on record the significant contribution of Venkataramanan in steering and executing the objectives of the Trusts' portfolios over the last five years. In addition to interventions through grants, Tata Trusts now also pursues large-scale programmes through direct implementation and partnerships with multiple state governments and foundations," the Tata Trusts said in a glowing tribute to the outgoing managing trustee.
Additionally, new trustees were appointed for the Sir Ratan Tata Trust. The new trustees are Noel N. Tata, Chairman of Trent Ltd and Managing Director of Tata International, and Jehangir H.C. Jehangir, who is leading the healthcare mission at the Jehangir Hospital in Pune.
Set up in 1892, the Tata Trusts is the country's oldest philanthropic organisation, engaged in areas of healthcare and nutrition, water and sanitation, education, energy, rural upliftment, urban poverty alleviation, arts, crafts and culture.