Noel Tata To Step Down As Voltas Chairman

Amid uncertainty over the public listing of Tata Sons, Noel Tata, who is also the present Chairman of Tata Trusts, intends to step down as the Chairman of Voltas. 

"As you might be aware, this will be my last annual general meeting as chairman," Noel Tata, Chairman of Voltas, told shareholders during the company's 72nd annual general meeting on Tuesday.

Further, he noted that the company has paved the way for next-gen leaders via in-house promotions and lateral hires.

"The company has developed our next generation of leaders, from both in-house promotions and lateral hires. I am confident that with the close cooperation of seasoned practitioners and new talent, your company will continue to take big strides in all business segments," he said.

On a congratulatory note, he said, "I would like to sincerely thank all our shareholders, colleagues and partners for your trust, understanding and constant support over the years," he said.

Noel Tata joined the board of directors of Voltas on January 27, 2003.

The outgoing Chairman of Voltas has been associated with the Tata group for 40 years and also serves as the Non-Executive Chairman of the Board of Tata Investment Corporation Limited, Tata International Limited, Tata International West Asia DMCC, Dubai, UAE.

He is also the Vice- Chairman of Tata Steel Limited and Titan Company Limited, whilst holding onto the post of Non-Executive Nominee Director in Tata Sons Private Limited. 

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His last executive assignment was as the Managing director of Tata International Limited, the trading and distribution arm of the Tata Group, between August 2010 and November 2021, where he grew the company from a turnover of USD 500 million to over USD 3 billion.

Prior to Tata International, Noel Tata served as the Managing Director of Trent Limited for over 11 years.