Almost a week after stepping down as chairman of Trent, Noel Tata announced on Tuesday that he would also relinquish the chairmanship of another Tata group firm, Voltas. Addressing shareholders of the leading cooling products maker in its 72nd annual general meeting (AGM), Noel Tata, 69, said this would be his last AGM as Chairman of Voltas. "As you might be aware, this will be my last annual general meeting as Chairman," Noel Tata said in his address to shareholders. He said the company has developed its next generation of leaders through a combination of internal promotions and lateral hiring and expressed confidence in the management's ability to drive future growth. "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. Thanking shareholders, employees an
Noel Tata to step down as Trent chairman in November after decades of leadership that shaped Westside and expanded the Tata retail business
The development would mark the end of a tenure that oversaw the transformation of the company from a single-store operation into one of India's largest retail networks
Tata Trusts Vice Chairman has urged Maharashtra's charity commissioner to order an inquiry into the transfer of Tata Sons shares from the Navajbai Ratan Tata Trust to late industrialist Naval Tata
Noel Tata says Trent remains in the early stages of growth and is on track to achieve its goal of becoming 10 times larger in revenue
Tata Group retail firm Trent remains in the early phase of its growth journey despite rapid expansion in recent years, said its Chairman Noel N Tata, exuding confidence that the company would achieve its ambitious target of becoming ten times bigger in revenue terms in the "not-so-distant future". Trent owns lifestyle and fashion department store chain Westside, value-fashion chain Zudio and hypermarket Star Bazaar. Tata, in Trent's latest annual report also said its future growth will continue to be anchored in building distinct, well-defined propositions across categories, while also aiming to take homegrown brands to international markets. Referring to his remarks at Trent's 2023 shareholders' meeting, Tata said he had envisioned the company becoming ten times larger in terms of revenues with commensurate profitability. "Since then, the revenue and profitability run rate have grown by over 2.5 times. Given all this, I am confident that we will reach the milestone I had reference
No talk on Chandra's term or listing at meeting called on Noel's behest
May 26 meeting expected to set the tone for Tata group's future leadership, discuss Tata Sons' listing
Reports state that Venu Srinivasan and Vijay Singh will cease to be trustees at TEDT after May 10, as Mehli Mistry and J N Mistry also voted against their reappointments
The Bombay High Court asked the petitioner to move the vacation bench if urgent relief was needed in the case challenging Sir Ratan Tata Trust's life trustees
Trustees at Tata Trusts are set to push for listing Tata Sons under RBI norms, exposing internal differences as Noel Tata seeks to keep the holding company closely held
Former trustee Mistry has accused Tata Trusts colleagues, including Chairman Noel Tata, of appointing non-Parsis as trustees, alleging violation of the trust deed's eligibility rules
Trust dominance and a history of family feuds test Tata's ownership structure as pressure grows to list the holding company as regulatory and governance pressures mount
A Tata Trusts resolution backing a third term for N Chandrasekaran remains valid, even as questions linger over Tata Sons' future structure
Chandrasekaran defers third-term nod as Noel Tata seeks assurances on listing, debt and SP Group dispute, exposing fresh fault lines within Tata Sons
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Simone Tata, the mother of Tata Trusts chairman Noel Tata, died at a city hospital on Friday after a brief illness. Simone Tata, the stepmother of the late Ratan Tata, was 95. Simone Tata was associated both with business ventures and philanthropic activities, a statement said. "She will always be remembered for her contribution to the growth of Lakm as India's leading cosmetic brand and laying the foundation for fashion retail with the Westside chain," the statement added. The Switzerland-born Simone also guided the work of many philanthropic organisations, including the Sir Ratan Tata Institute, it said. A positive outlook and a deep resolve helped Simone overcome many challenges in her life, it said. Last respects to Simone can be paid on Saturday morning at the Cathedral of the Holy Name Church in Colaba, followed by a mass at 11 am, the statement said.
The Tata group's internal power balance remains delicate as Noel Tata succeeded in placing his son, Neville, on the board of one of the two powerful trusts that holds majority stake in Tata Sons, but is said to have failed to get his way in the other, sources said. After the demise of patriarch Ratan Tata in October last year, Noel took over as the chairman of Tata Trusts, a group of philanthropic organisations that collectively own 65.4 per cent in Tata Sons, the holding company of the 156-year-old Tata Group, which comprises around 400 companies, including 30 listed entities. On Wednesday, Noel's son Neville and former group company leader Bhaskar Bhat were appointed to the Sri Dorabji Tata Trust (SDTT), which owns 28 per cent in Tata Sons, according to a statement issued by the trust. However, he couldn't get the two appointed on the Sir Ratan Tata Trust (SRTT), which holds 23.6 per cent in Tata Sons, sources said. This is apparently because of an objection raised by Venu ...
Srinivasan gets 3-yr term in compliance with legal norms
Soon after the tension at the Tata Trusts board meeting, renewal of trustees' tenure turned into a contentious issue