Noel Tata will leave Trent after 29 years. Bahram Vakil will replace him as the new chairman. He has been with the company since 1997. In addition to Noel's departure, the company has made two other significant changes.
Noel Tata departs after 29 years in the position on November 11. Who will be the new chairman?
A major change is underway at Trent, the Tata Group's retail company. Noel Tata, chairman of Tata Trusts, turns 70 on November 11th, and as part of the Tata Group's retirement policy, he is retiring as chairman of Trent. Noel has been with the company since 1997, becoming MD in 1999 and chairman since 2014.
Under Noel Tata's leadership, brands like Westside and Zudio experienced tremendous growth. He will now be named Chairman Emeritus effective November 11th. He will be succeeded by Bahram Vakil, co-founder of the AZB & Partners law firm, as the new chairman effective November 12th. Rajiv Dubey and Kalpana Merchant have also been appointed to the board. Noel Tata stated that Trent's best days are still ahead.
Thanks for the contribution, Noel - Trent
Trent stated that Noel Tata has steered the company in the right direction during his tenure. Under his leadership, the company has strengthened its market position and achieved consistent growth. The board also thanked him for his contributions over the past 29 years.
It should be noted that this change has been made under Tata Group regulations, which have specific rules regarding the formation of the board and the retirement of directors. Tata will now take on a new role. The company has announced that he will be appointed Chairman Emeritus effective November 12th. This decision has been taken to honor his long-standing contributions.
The board also took two more major decisions.
The company's board also made two other significant decisions. Rajiv Dubey has been appointed as an additional director effective October 30th. He will remain a non-executive and non-independent director, subject to shareholder approval. Kalpana Merchant has also been appointed as an independent director for a three-year term, effective October 30th, 2026. This also requires shareholder approval.
These changes come as Trent is rapidly expanding its retail business. The company's brands Westside and Zudio are popular, as well as its food and grocery business under the Star name.
Earnings reached Rs 5,873 crore.
In the last quarter, the company's profit increased by 25% to ₹468 crore (₹468 crore), while revenue increased by 22% to ₹5,873 crore (₹5,873 crore). Meanwhile, the lawyer's appointment is being seen as a major change in board leadership, as the company now seeks to accelerate its expansion in the fashion, lifestyle, and grocery sectors.
