Noel Tata had indicated his intention to step down while addressing shareholders at Trent’s annual general meeting in June. (PTI File Photo)With Noel Tata, Chairman of Tata Trusts, set to step down from the boards of six major Tata Group companies on November 12 — when he turns 70, in accordance with the group’s retirement policy for non-executive directors — the companies are appointing new directors and chairmen.Tata will cease to be Non-executive Chairman of Trent, Voltas, Tata Investment Corporation, and Tata International. TV Narendran, Managing Director (MD) of Tata Steel, will take over as chairman of Tata International, while Sunil D’Souza has been appointed chairman of Voltas. AZB & Partners Co-founder Bahram Vakil has been nominated as chairman of Trent. Noel Tata will become Chairman Emeritus.The planned exits are part of an established governance practice under the group’s retirement policy and have no connection with the ongoing differences between Tata Trusts and Tata Sons over the group’s leadership and governance.Tata Steel and Titan are expected to get new vice chairmen and directors following Noel Tata’s retirement as the Vice Chairman.However, he will continue as a Tata Trusts nominee director on the board of Tata Sons, the holding company of the group, and as chairman of Tata Trusts, which collectively hold about 66% of Tata Sons.Mukundan Menon CP will complete his tenure as Voltas MD on May 24, 2027. Voltas has appointed Jayant Balan as the MD for a five-year term from May 25, 2027.The retirement timeline is not a sudden development. Tata had indicated his intention to step down while addressing shareholders at Trent’s annual general meeting in June. He subsequently made a similar announcement at Voltas’s annual general meeting (AGM), saying it would be his last AGM as the company’s chairman.Story continues below this adRatan Tata also followed the Tata Group retirement policy, and relinquished the executive positions when he turned 70.The distinction is significant at a time when the Tata Group is grappling with a governance dispute over the proposed reappointment of N Chandrasekaran as Tata Sons chairman. Noel Tata had opposed the resolution seeking to approve Chandrasekaran’s proposed third five-year term as well as the move to pursue the listing of Tata Sons. He had also raised questions over the decision-making process and the role of Tata Trusts-nominated directors.While the six board-level exits are in line with the group’s retirement policy, the developments come against the backdrop of wider differences within the Tata Group over its leadership, governance structure and the future of Tata Sons.George Mathew is an Associate Editor with The Indian Express, based in Mumbai. A veteran of financia... Read More Tags:Noel Tata