Tata Steel Managing Director and CEO TV Narendran has taken over as chairman of Tata International, effective November 12, succeeding Noel Tata as part of a wider leadership reshuffle across the Tata Group.
Noel Tata is stepping down from the boards of several group companies after reaching the retirement age of 70, in accordance with the group's governance guidelines for non-executive directors. The changes come at a time when differences over governance and control between Tata Trusts and Tata Sons have attracted considerable attention.
Apart from Tata International, Noel Tata is relinquishing his chairmanship of Trent, Voltas and Tata Investment Corporation. He is also stepping down as vice-chairman of Tata Steel and Titan Company.
However, he will continue as chairman of Tata Trusts, which holds a controlling stake in Tata Sons, and remain a nominee director on the board of the group's holding company.
Narendran, who has spent more than three decades with Tata Steel, brings over 38 years of experience in the mining and metals industry. He has been closely involved in the steelmaker's domestic and international expansion and has also served as a non-executive director of Tata International.
Bahram Vakil, co-founder of law firm AZB & Partners, has been appointed chairman of Trent and Tata Investment Corporation, replacing Noel Tata.
Sunil D'Souza, Managing Director of Tata Consumer Products, has assumed the chairmanship of Voltas. The company has also named Noel Tata chairman emeritus, effective November 12.
The changes across these companies took effect on November 12, following Noel Tata's retirement at the close of business on November 11.
Noel Tata previously served as managing director of Tata International from August 2010 to November 2021. He also played a significant role in Trent's expansion, helping transform the business from a single-store operation in 1998 into a major multi-format retailer.
The appointments have also brought Tata Group's internal governance arrangements into focus. Reports suggest that the new chairmen were appointed without prior approval from Tata Sons, raising questions about the relationship between the group's holding company and individual operating businesses.
However, people close to Noel Tata have reportedly maintained that his retirement plans were known well in advance. Under the Companies Act, the appointment of a company's chairman is generally a board decision, subject to its articles of association and applicable regulations.
The leadership transition comes as Tata International restructures its global trading operations through a proposed joint venture with Switzerland-based commodities trader Mercuria Energy Group.
The company also returned to profitability, posting a net profit of ₹73 crore in FY26 against a loss of ₹477 crore in FY25, according to filings with the Ministry of Corporate Affairs.
For Narendran, the new role comes as Tata International moves ahead with restructuring its trading business while navigating a broader leadership transition within the conglomerate.