New Delhi: Tata Investment Corporation on Wednesday announced that Noel N Tata will retire as its Chairman and Director with effect from the close of business hours on November 11, with Bahram Vakil set to take over as Chairman from November 12.
In a regulatory filing to the stock exchanges, the company said the retirement was in accordance with the Tata Group Governance Guidelines, which prescribe requirements related to board composition, board committees and the retirement of directors.
Get updated faster and for FREE: Download the Gulf News app now - simply click here.
"In accordance with the aforesaid Guidelines, Mr. Noel N. Tata (DIN: 00024713) will retire from the office of Chairman and Director of the Company with effect from the close of business hours on November 11, 2026," the company stated.
Noel Tata named Chairman Emeritus
Noel Tata has served on the company's board since June 9, 2004, and was appointed Chairman on June 24, 2010. His retirement marks the end of over 16 years as Chairman and more than 22 years as a board member.
Recognising his contribution, the board has appointed him Chairman Emeritus with effect from November 12.
The company stated, "Under his stewardship, the Company has achieved significant milestones and delivered sustained growth and value for its shareholders."
