After Trent, Noel Tata is stepping down as Voltas chairman
What's the story
Noel Tata, a veteran leader of the Tata Group, has announced his decision to step down as Chairman of Voltas. The announcement was made during the company's 72nd annual general meeting (AGM) today. This was his last AGM in the capacity of chairman. Tata had also recently announced his departure from Trent's chairmanship. He will turn 70 in November and retire from other Tata Group boards later this year.
Leadership transition
Tata confident of next-gen leadership
Tata expressed confidence in Voltas's next-generation leadership, which has been developed through a mix of internal promotions and external hires. He said the company's management is well-prepared to drive future growth across its businesses. "I would like to sincerely thank all our shareholders, colleagues and partners for your trust, understanding and constant support over the years," he added while thanking everyone who supported him during his tenure at Voltas.
Career highlights
More on Noel's association with Voltas
Tata joined the Voltas board on January 27, 2003. He became the company's Non-Executive Chairman on September 1, 2017, succeeding Ishaat Hussain. Apart from his role as Chairman of Tata Trusts, which is the largest shareholder of Tata Sons, he also serves as Non-Executive Chairman of Trent, Tata Investment Corporation, Tata International and Trent Hypermarket. He is Vice-Chairman of Tata Steel and Titan Company Ltd.
Business growth
Major milestones during Tata's tenure at Voltas
During his tenure, Tata has seen Voltas achieve major milestones. The company's room air-conditioner business crossed sales of one million units in a record 81 days. "I have great satisfaction that Voltas stands strong today, having entered the new financial year on a strong note," he said while highlighting the company's performance under his leadership.