After Trent, Noel Tata to step down as Voltas chairman

Almost a week after stepping down as chairman of Trent, Noel Tata announced on Tuesday that he would also relinquish the chairmanship of another Tata group firm, Voltas. Addressing shareholders of the leading cooling products maker in its 72nd annual general meeting (AGM), Noel Tata, 69, said this would be his last AGM as Chairman of Voltas. “As you might be aware, this will be my last annual general meeting as Chairman,” Noel Tata said in his address to shareholders.

He said the company has developed its next generation of leaders through a combination of internal promotions and lateral hiring and expressed confidence in the management’s ability to drive future growth.

“The company has developed our next generation of leaders, from both in-house promotions and lateral hires. I am confident that with the close cooperation of seasoned practitioners and new talent, your company will continue to take big strides in all business segments,” he said. Thanking shareholders, employees and business partners for their support over the years, Tata said he was satisfied with the company’s current position and growth trajectory. “I would like to sincerely thank all our shareholders, colleagues and partners for your trust, understanding and constant support over the years,” he said. Noel Tata had joined the board of Voltas on January 27, 2003. He was appointed as the non-executive chairman of Voltas on September 1, 2017, succeeding the outgoing chairman, Ishaat Hussain.