News ArticleTrent Limited Names Bahram Vakil as New Chairman Following Noel Tata’s Retirement, Adds Rajiv Dube and Kalpana Merchant to Board
Leadership transition effective November 2026 includes key director appointments with Kalpana Merchant joining as independent director for three-year term
Trent Limited reported key leadership changes including the retirement of Mr. Noel N. Tata as Chairman effective 11th November 2026, appointment of Mr. Bahram Vakil as new Chairman from 12th November 2026, addition of Mr. Rajiv Dube as Non-Executive, Non-Independent Director and Ms. Kalpana Merchant as Independent Director for a three-year term starting 30th October 2026.
Trent Limited
Change in Management
Trent Limited announced multiple leadership changes: Chairman Noel N. Tata will retire on 11th November 2026 and be appointed Chairman Emeritus, Mr. Bahram Vakil will assume the Chairman role from 12th November 2026, alongside director appointments of Mr. Rajiv Dube and Ms. Kalpana Merchant effective 30th October 2026, with Merchant serving a three-year independent director term.
Mr. Noel N. Tata has served Trent Limited since 1997 and will retire as Chairman and Director effective 11th November 2026, with the board acknowledging his nearly 29 years of leadership and contribution. He will be designated Chairman Emeritus starting 12th November 2026.
Following Mr. Tata’s retirement, Mr. Bahram Vakil will be appointed Chairman from 12th November 2026. Mr. Vakil is not related to any current company directors and has no regulatory disqualifications.
The Board also approved the appointment of Mr. Rajiv Dube as an Additional Non-Executive, Non-Independent Director effective 30th October 2026, pending shareholder approval. Mr. Dube brings over 40 years of multi-sector experience including executive roles at Tata and Aditya Birla groups.
Ms. Kalpana Merchant was appointed as an Additional Director and approved as an Independent Director for a three-year term starting 30th October 2026 through 29th October 2029, subject to shareholder approval. She has over 45 years of legal experience with expertise in commercial property, infrastructure, project finance, and corporate law.
All appointments follow recommendations from the Nomination and Remuneration Committee and are subject to shareholder approval where applicable.
Highlights
- Noel N. Tata retires as Chairman of Trent Limited effective 11th November 2026, after nearly 29 years tenure.
- Bahram Vakil appointed as new Chairman effective 12th November 2026.
- Rajiv Dube appointed Additional Non-Executive, Non-Independent Director effective 30th October 2026, pending shareholder approval.
- Kalpana Merchant appointed Additional and Independent Director for three-year term starting 30th October 2026, pending shareholder approval.
- Board meeting held 29th October 2026 from 12:15 p.m. to 3:45 p.m. announced these changes.
Key Data Snapshot
What happened
- Noel N. Tata retired as Chairman and Director effective 11th November 2026 and appointed Chairman Emeritus from 12th November 2026.
- Bahram Vakil appointed as Chairman from 12th November 2026.
- Rajiv Dube appointed Additional Non-Executive, Non-Independent Director effective 30th October 2026, subject to shareholder approval.
- Kalpana Merchant appointed Additional and Independent Director for three-year term from 30th October 2026 to 29th October 2029, subject to shareholder approval.
Key details
- Board changes follow Tata Group Governance Guidelines regarding retirement and appointments.
- Noel N. Tata associated with company since 1997, credited with providing leadership and strategic direction.
- Rajiv Dube has over 40 years experience including executive roles at Tata Motors and Aditya Birla group.
- Kalpana Merchant has over 45 years legal experience including infrastructure, project finance, corporate law.
- All new appointees are not related to any current director and have no SEBI disqualifications.
Background and context
- Announcement made by the Board of Trent Limited on 29th October 2026 after a meeting from 12:15 p.m. to 3:45 p.m.
- Appointment of directors is subject to shareholder approval as per regulatory requirements.
- Company follows Tata Group Governance Guidelines for managing Board composition and director tenure.
- Noel N. Tata’s appointment as Chairman Emeritus recognizes his nearly three decades of service.
- Details of directors’ profiles have been disclosed in line with SEBI regulations and circulars.
Highlights
- Noel N. Tata retires as Chairman of Trent Limited effective 11th November 2026, after nearly 29 years tenure.
- Bahram Vakil appointed as new Chairman effective 12th November 2026.
- Rajiv Dube appointed Additional Non-Executive, Non-Independent Director effective 30th October 2026, pending shareholder approval.
- Kalpana Merchant appointed Additional and Independent Director for three-year term starting 30th October 2026, pending shareholder approval.
- Board meeting held 29th October 2026 from 12:15 p.m. to 3:45 p.m. announced these changes.
Disclosures
- Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
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