Bahram Vakil to succeed Noel Tata as Tata Investment Chairman
Noel Tata retires from the company after 16 years as Chairman and more than 22 years on the board.
Tata Investment Corporation announced on Wednesday that Noel N Tata will retire as its Chairman and Director at the close of business on November 11. According to Business Today, Bahram Vakil, the current Vice-Chairman and an Independent Director, will succeed him as Chairman effective November 12.
The company stated that the transition follows the Tata Group Governance Guidelines regarding board composition and the retirement of directors. The board has appointed Noel Tata as Chairman Emeritus starting November 12.
Noel Tata joined the board on June 9, 2004, and became Chairman on June 24, 2010. The company noted that under his stewardship, the firm achieved significant milestones and delivered sustained growth for shareholders.
The board also approved the appointment of Abizer Shabbir Diwanji as an Additional Non-Executive Independent Director, effective November 12. Diwanji, the founder of NeoStrat Advisors LLP, will serve for five years until November 11, 2031, subject to shareholder approval.
Bahram Vakil is a co-founder of the law firm AZB & Partners with experience in restructuring, bankruptcy, infrastructure and project finance. Diwanji previously led financial services practices at KPMG and EY.