Noel Tata steps down as Tata Investment Chairman after 16 years; Bahram Vakil to take over

Tata Trusts Chairman Noel Tata retired as Chairman and Director of Tata Investment Corporation at the close of business on November 11, ending more than 16 years at the helm of the company.

The board has appointed Bahram Vakil as the new Chairman, effective November 12, according to a stock exchange filing on Wednesday.

The company said the decision was in accordance with the Tata Group Governance Guidelines, which prescribe requirements relating to board composition, committees and retirement of directors.

"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 said.

Read More: 'Settle it among yourselves': FM Sitharaman calls for amicable resolution of Tata Sons dispute

Noel Tata joined the board of Tata Investment Corporation on June 9, 2004, and became Chairman on June 24, 2010. His retirement brings to an end a board tenure spanning more than 22 years.

Recognising his contribution, the board has appointed him Chairman Emeritus from November 12.

"Under his stewardship, the Company has achieved significant milestones and delivered sustained growth and value for its shareholders," Tata Investment said.

The board also placed on record its appreciation for his leadership and strategic direction.

Must Read: Noel Tata's 3 letters set the stage for Tata Sons board meet on Nov 26 amid ongoing friction

Bahram Vakil named new Chairman

The company confirmed that Bahram Vakil, currently its Vice-Chairman and an Independent Director, will succeed Noel Tata.

"Board has appointed Mr. Bahram Vakil as Chairman of the Company with effect from November 12, 2026," the filing said.

Vakil is a co-founder of law firm AZB & Partners and has extensive experience in restructuring, bankruptcy, infrastructure and project finance.

The board also approved the appointment of Abizer Shabbir Diwanji as an Additional Non-Executive Independent Director, effective November 12.

Diwanji's appointment will be for five years, until November 11, 2031, subject to shareholder approval. He is the founder of NeoStrat Advisors LLP and previously led financial services practices at KPMG and EY.

The development comes as Noel Tata prepares to step down from several Tata Group company boards in line with the group's retirement policy for non-executive directors.

He turns 70 on November 12.

Apart from Tata Investment Corporation, he is set to relinquish board positions at Trent, Voltas, Tata International, Tata Steel and Titan.

However, he will continue as Chairman of Tata Trusts and as a Tata Trusts nominee director on the board of Tata Sons, the holding company of the Tata Group.