Noel Tata to Retire as Voltas Chairman in 2026, appointed Chairman Emeritus
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Noel N Tata, Chairman of Tata Trusts, has been appointed as Chairman Emeritus of Voltas, a day after he retired as Chairman and Director of the leading cooling products maker.
Noel Tata will retire as Chairman and Director of Voltas Ltd on November 11, 2026, upon attaining the age of superannuation under Tata Group governance guidelines.
Following his retirement, "the Board has appointed him as Chairman Emeritus of the Company with effect from November 12, 2026," said Voltas, a Tata Group firm, in its regulatory filing.
The Companies Act 2013 mandates that any managing director or whole-time director cannot be appointed or continue employment if they are 70 years of age or older.
Noel Tata, who was born on November 12, 1956, will turn 70 on November 12, 2026. He has been associated with Voltas since 2003.
Additionally, the board has appointed Sunil D'Souza as the new Chairman of Voltas.
D'Souza currently leads the Tata Group's FMCG arm, Tata Consumer Products Ltd (TCPL), as Managing Director and Chief Executive Officer. The company sells a wide range of consumer products, including salt, tea, coffee, packaged foods and beverages under brands such as Tata Salt, Tata Tea, Tetley and Tata Sampann.
"The Board has appointed Sunil Alaric D’Souza as Chairman of the Company with effect from November 12, 2026," Voltas said.
Moreover, the tenure of Voltas Managing Director C P Mukundan Menon will end on May 24, 2027, when he will retire from the company's services in line with the Tata Group's retirement policy for executive directors.
Voltas announces leadership transition, names Jayant Balan as next MD
The board has approved the appointment of Jayant Balan, currently Head of the Room Air Conditioner Business, as an Additional Director and Managing Director for a five-year term beginning May 25, 2027, subject to shareholders' approval.
"As part of a planned succession process, the Board, based on the recommendation of the Nomination and Remuneration Committee, has approved the appointment of Jayant Balan, currently Head - Room Air Conditioner Business, as an Additional Director and Managing Director of the Company for a term of five years commencing from May 25, 2027," Voltas said.
This will be subject to the approval of the shareholders.
To ensure a smooth transition, Balan has been redesignated as Head – Room Air Conditioner Business and Managing Director Designate until his appointment takes effect.
The board has also approved the appointment of Venkatesalu Palaniswamy as an Additional Director in the non-independent, non-executive category with effect from November 12, 2026.