Noel picks top lawyer, friend as Trent successor

MUMBAI: Noel Tata has picked close friend Bahram Vakil, co-founder of AZB & Partners, to succeed him as chairman of Trent, the Tata Group's fashion and retail flagship established by his mother, Simone Tata. Vakil takes over on Nov 12, a day after Noel retires as chairman on Nov 11.The appointment has raised eyebrows in sections of the Tata ecosystem, said people familiar with the matter.

They said Noel did not keep Tata Sons chairman N Chandrasekaran, who was in Singapore, informed about the board changes at Trent, particularly Vakil's elevation, before the company disclosed the decision to stock exchanges on Thursday.The move comes despite Tata Sons, which owns 32% of Trent, having recently taken part in the retailer's Rs 2,500-crore rights issue.Simone and later Noel have traditionally overseen Trent.

Ratan Tata largely stayed out of its affairs as Tata Sons chairman, the people said. So did Cyrus Mistry, his successor, and later Chandrasekaran. Tata Sons has nonetheless consistently backed Trent and kept nominees on its board. After Nov 11, though, the revamped board will have none, despite the holding company being the retailer's largest shareholder, the people said.Trent has also appointed Rajiv Dube, a former Aditya Birla Group and Tata Motors executive, as a non-executive director and senior lawyer Kalpana Merchant as an independent director, effective Oct 30.

The appointments follow the Oct 17 resignation from the Trent board of Harish Bhat, a former Tata Sons senior executive.The other board members are independent directors Kiran Mazumdar-Shaw, Hema Ravichandar, Ravneet Gill and Jayesh Merchant, and managing director P Venkatesalu.Vakil joined the Trent board as a non-executive director in April. Noel, who has been associated with the retailer since 1997, becomes chairman emeritus on Nov 12, a title Simone held until her death in Dec 2025.

Chairman emeritus is an honorary position conferred on a retired leader. It carries neither executive authority nor statutory voting rights.Noel and his wife, Aloo Tata, are expected to attend the wedding celebrations of Vakil's daughter at the Taj Aravali Resort & Spa in Udaipur on Friday, the people said.Vakil, vice-chairman of Tata Investment Corporation, is also seen as a strong contender to succeed Noel as its chairman, the people said.

Noel retires from that role on Nov 11 on reaching the Tata Group's retirement age of 70 for non-executive directors.Noel will also step down from the boards of Voltas, Tata International, Tata Steel and Titan. He will continue as a director of Tata Sons, where he represents controlling shareholder Tata Trusts, thereby retaining influence at the group's holding company.You use AI every day.

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