Noel Tata, Chairman, Tata Trusts | Photograph courtesy of Reuters
Virtually every week after resigning as chairman of Torrent, Noel Tata introduced on Tuesday (30 June 2026) that he would additionally relinquish his submit as chairman of Voltas, one other Tata group firm.
Addressing shareholders on the main cooling merchandise producer’s 72nd Annual Common Assembly (AGM), Noel Tata, 69, mentioned this will likely be his final common assembly as chairman of Voltas.
“As you might be in all probability conscious, this will likely be my final annual common assembly as chairman,” Noel Tata mentioned in an tackle to shareholders.
He mentioned the corporate has developed the subsequent technology of leaders via a mixture of inner promotions and lateral hiring, and expressed confidence within the administration crew’s skill to drive future development.
“We’ve developed the subsequent technology of leaders via each inner promotion and lateral recruitment. I’m assured that with the shut collaboration of skilled practitioners and new expertise, your organization will proceed to make important progress in all areas of its enterprise,” he mentioned.
Mr. Tata thanked shareholders, workers and enterprise companions for his or her assist over time and mentioned he was happy with the corporate’s present place and development trajectory.
“I wish to sincerely thank our shareholders, colleagues and companions for his or her belief, understanding and continued assist over time,” he mentioned.
Noel Tata joined the Voltas Board of Administrators on January 27, 2003. He was appointed Non-Govt Chairman of Voltas on 1 September 2017, changing outgoing Chairman Ishat Hussain.
Earlier this month, on June 23, Noel Tata made the same announcement to shareholders of Indian vogue and way of life retail large Torrent.
Noel Tata, chairman of Tata Trusts, Tata Sons’ largest shareholder, will flip 70 in November this yr.
The Firms Act 2013 requires {that a} managing director or whole-time director who’s over 70 years of age can’t be appointed or proceed to be employed.
In his tackle, Tata highlighted the corporate’s latest efficiency and mentioned Voltas entered the present monetary yr on a robust footing with the room air conditioner enterprise reaching necessary milestones.
“I’m very completely happy that Voltas entered the brand new monetary yr on a robust notice and continues to carry out nicely at present. Our room air conditioner enterprise has surpassed the a million unit milestone in a document 81 days, reaffirming our place because the undisputed market chief,” he mentioned.
He additionally expressed his gratitude to the staff and three way partnership companions who’ve contributed to the corporate’s development. Noel Tata has been related to the Tata Group for 40 years.
He presently serves as Non-Govt Chairman of the Board of Torrent, Tata Funding Company, Tata Worldwide, Torrent Hypermarket and Tata Worldwide West Asia DMCC in Dubai, United Arab Emirates. Moreover, he’s additionally the Vice Chairman of Tata Metal and Titan Firm Ltd.
