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- Trent Chairman Noel Tata Retires | Bahram Vakil Appointed | Board Changes
New Delhi8 minutes ago
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Noel Tata, Chairman and Director of Tata Group’s retail company Trent Limited, has retired from his post today. He was working on this post for 29 years. Bahram Vakil will take over the responsibility in place of Noel Tata.
The company said in its exchange filing that from November 12, Noel will be appointed as Tata Chairman Emeritus i.e. Honorary Chairman. Apart from this, he will also remain the nominee director of Tata Trusts on the board of Tata Sons as before.
This change is happening at a time when Tata Sons Chairman N. There are differences going on regarding Chandrasekaran’s reappointment, listing of Tata Sons and governance rules of the group.
Relinquished post as per group policy after attaining 70 years of age
Noel Tata has taken this decision as per Tata Group’s own policy. Tata Group has a rule that the retirement age of officers working as board members in the company is fixed at 70 years.
Noel Tata has completed 70 years of age, hence following the rules, he has decided to step down from the post of Chairman and Director of the company.
Abizar becomes new independent director for 5 years
Another major decision was taken in the meeting of Tata Investment Corporation. The company has approved the addition of Abizar Shabbir Diwanji to its board as a new independent director.
On the advice of the special committee of the company, Diwanji has been appointed for a full period of 5 years from 12 November 2026 to 11 November 2031.
However, as per the rules, this decision is yet to get the final approval of the company’s shareholders.
Company’s work: Investing Tata Group’s money in the right place
In simple words, Tata Investment Corporation is a company of Tata Group, whose main work is to invest money in other companies.
This company invests money for long term by buying shares and bonds of listed (like TCS, Tata Motors) and unlisted companies in the stock market.
Now with the departure of Noel Tata and Bahram Vakil becoming the new chairman, some new changes may be seen in the company’s investment methods and decisions in the coming times.
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