Noel Tata to retire as Trent chairman; Bahram Vakil to take over
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Noel N Tata will step down as chairman and director of Trent Ltd with effect from the close of business on November 11, the Tata Group retailer said on Thursday, as part of the group’s governance guidelines.
Tata, who has been associated with Trent since 1997, will be appointed chairman emeritus with effect from November 12, the company said in a regulatory filing.
Bahram Vakil will take over as chairman of Trent from November 12. The company has also appointed Rajiv Dube as an additional non-executive, non-independent director with effect from October 30, subject to shareholder approval.
Kalpana Merchant has been appointed an additional independent director for a three-year term from October 30, 2026, to October 29, 2029, subject to shareholder approval.
The transition comes as Tata prepares to step down from the boards of several major Tata Group companies on turning 70, in line with the conglomerate’s retirement policy for non-executive directors.
Nearly three decades with Trent
Tata has played a key role in Trent’s growth across retail formats. He was appointed managing director in 1999 and subsequently became non-executive director in August 2010, before taking over as chairman in March 2014, according to the company’s website.
Under his leadership, Trent expanded its retail portfolio, which includes Westside, Zudio and Star. The company has accelerated its store expansion in recent years, particularly through value-fashion chain Zudio.
In its press release accompanying the September-quarter results, Tata said Trent was continuing to expand into new markets, including Tier 2 and Tier 3 cities, and expressed confidence in the company’s long-term growth prospects.
“As I conclude my tenure as Chairman of Trent, I could not be more delighted at the enormous strides the Company has made in recent years,” Tata said.
He added that Trent had transformed from a fledgling entrant in the fashion sector into one of its leading players, with growth, profitability and capital efficiency.
“Yet, I firmly believe that Trent’s best days lie ahead,” he said, adding that the company would look to strengthen its lifestyle businesses, expand its presence in food and grocery, and emerge as a meaningful exporter of Indian brands.
Tata will continue to serve as chairman of Tata Trusts and remain a nominee director on the board of Tata Sons, the group’s holding company.