Noel picks top lawyer, friend as Trent successor
MUMBAI: Noel Tata has selected close friend and AZB & Partners co-founder Bahram Vakil to succeed him as chairman of Trent, the Tata Group‘s fashion and retail flagship established by his mother, Simone Tata. Vakil will take over as chairman of Trent on Nov 12, a day after Noel retires from the board-led role at the retailer on Nov 11.Vakil’s appointment, however, has raised eyebrows within sections of the Tata ecosystem, according to people familiar with the matter. They said Noel did not keep Tata Sons chairman N Chandrasekaran, who was in Singapore, informed about the board changes at Trent, particularly Vakil’s elevation as chairman, before the decision was disclosed to stock exchanges on Thursday.The move comes despite Tata Sons, which owns 32% of Trent, having recently participated in the retailer’s Rs 2,500-crore rights issue. While Trent has traditionally been overseen by Simone and later Noel, people said Ratan Tata, during his tenure as chairman of Tata Sons, largely refrained from intervening in the fashion retailer’s affairs. The same, they said, was true of Cyrus Mistry, Ratan Tata’s successor, and later Chandrasekaran.Vakil was appointed a non-executive director of Trent in April. Noel, who has been associated with Trent since 1997, will become chairman emeritus from Nov 12, a title Simone held until her death in Dec 2025. Chairman emeritus is an honorary position conferred on a retired leader and carries neither executive authority nor statutory voting rights. People said Noel and his wife, Aloo Tata, are expected to attend the wedding celebrations of Vakil’s daughter at the Taj Aravali Resort & Spa in Udaipur on Friday.Vakil, people said, is also seen as a strong contender to succeed Noel as chairman of Tata Investment when he retires from the role on Nov 11. Vakil currently serves as vice-chairman of the investment company.Vakil’s elevation comes amid a broader reshaping of Trent’s board. The retailer has appointed Rajiv Dube, a former senior executive at Tata Motors, as a non-executive director and senior lawyer Kalpana Merchant as an independent director, effective Oct 30. The appointments follow the resignation of Tata veteran Harish Bhat from the Trent board on Oct 17.
