Tata Investment Corporation announced on Wednesday that Noel N. Tata will retire as Chairman and Director effective from the close of business hours on November 11, 2026. His successor, Bahram Vakil, will assume the role of Chairman starting November 12. This transition is in line with the Tata Group Governance Guidelines, which dictate board composition and retirement protocols for directors. Noel Tata has been a board member since June 9, 2004, and has served as Chairman since June 24, 2010, marking over 16 years in that leadership role and more than 22 years on the board. Following his retirement, he will be appointed Chairman Emeritus, acknowledging his significant contributions to the company’s growth and value creation for shareholders.

Bahram Vakil, who takes over as Chairman, is a prominent corporate lawyer and co-founder of AZB & Partners, one of India's leading law firms. His expertise encompasses corporate restructuring, infrastructure, project finance, and insolvency matters. Vakil has been instrumental in advising distressed investment funds and has represented various banks in complex financial transactions. His educational background includes a Master of Laws (LL.M.) from Columbia University, and he is a member of the New York State Bar. His legal acumen has earned him recognition in international legal circles, particularly for his work related to insolvency and financial reforms in India.S2

Vakil's relationship with the Tata Group has strengthened over recent years; he became vice-chairman and an independent director of Tata Investment Corporation in March 2025. His new role as Chairman is expected to further enhance his responsibilities within the group. The company also announced the appointment of Abizer Shabbir Diwanji as an Additional Non-Executive Independent Director, effective from November 12, 2026, pending shareholder approval. Diwanji, the founder of NeoStrat Advisors LLP, brings two decades of experience from KPMG and EY in financial services.S1