Bahram Vakil Succeeds Noel Tata as Tata Investment Corporation Chairman From November 12

Bahram Vakil is taking over the chairmanship of Tata Investment Corporation from November 12 as Noel Tata leaves the board under the Tata Group’s governance framework. The succession also brings an honorary role for Tata, who becomes chairman emeritus from the same date.

Leadership passes to an existing board member

Vakil, a co-founder of AZB & Partners, has served as vice-chairman since March. His appointment places an existing member of the company’s leadership in the chairman’s position. His legal work spans insolvency, restructuring, infrastructure and project finance.

Tata’s departure takes effect after business closes on November 11. His association with the board began in 2004, and he assumed the chairmanship in 2010. The honorary emeritus designation follows that long period of service; the information available does not specify any formal responsibilities attached to it.

Another board appointment announced

The leadership changes also include Abizer Diwanji joining as an additional independent director. A five-year term beginning November 12 has been announced, with shareholder approval required. Diwanji is a chartered accountant whose previous roles include financial-services leadership at KPMG and EY.

The stated basis for the transition is the group’s governance guidelines. The available information does not identify the particular retirement provision involved or set out a new investment strategy under Vakil. It also provides no timetable for the shareholder decision concerning Diwanji’s appointment.