Almost a week after announcing his decision to step down as chairman of Trent, Noel Tata revealed that he will also relinquish the chairmanship of Tata Group company Voltas. At Voltas’ 72nd annual general meeting in Mumbai, the 69-year-old stated that this meeting would mark his final one as the company’s chairman, concluding his leadership role since 2017.
Tata expressed confidence in Voltas’ future, highlighting the company’s strong leadership pipeline developed through internal promotions and external hiring. He emphasized the importance of collaboration between experienced professionals and new talents to drive growth across all business segments.
Acknowledging the support from shareholders, employees, and business partners, Tata conveyed his satisfaction with Voltas’ current position and optimism about its future trajectory. He thanked stakeholders for their trust, understanding, and continuous backing over the years.
Tata, who also chairs Tata Trusts, the largest shareholder of Tata Sons, will reach the age of 70 in November this year. As per the Companies Act, 2013, a managing director or whole-time director cannot hold office after turning 70 without meeting specific conditions, though this rule does not apply to non-executive chairpersons.
