Noel Tata to retire as Voltas chairman:Sunil Desouza to take over; Jayant Balan appointed new MD

Noel N Tata, chairman and director of Voltas, the Tata Group company that makes cooling products, is set to retire on 11 November 2026. He is retiring under the Tata Group’s guidelines after reaching the age of 70. After Noel’s retirement, the company’s board has decided to appoint him chairman emeritus, or honorary chairman, with effect from 12 November 2026. Sunil D’Souza to be Voltas’ new chairman The board has appointed Sunil D’Souza, the current managing director and CEO of Tata Consumer Products Limited (TCPL), the Tata Group’s FMCG company, as Voltas’ new chairman. D’Souza will take charge from 12 November 2026. Under D’Souza’s leadership, Tata Consumer Products operates businesses in salt, tea, coffee, packaged food and beverages under major brands such as Tata Salt, Tata Tea, Tetley and Tata Sampann. Noel Tata’s retirement due to company rules Under the Companies Act 2013, no person can continue as MD or whole-time director after turning 70, nor can they be reappointed. Noel Tata, who was born on 12 November 1956, will turn 70 on 12 November. Noel Tata has been associated with Voltas since 2003. He is currently also the chairman of Tata Trusts. Under the same group policy, Noel Tata resigned as chairman of Trent, the Tata Group’s retail firm, a few months ago. Jayant Balan appointed new managing director The term of the company’s current Managing Director, C.P. Mukundan Menon, will end on 24 May 2027. He will retire under the Tata Group’s retirement policy. The appointment of Jayant Balan as an Additional Director and Managing Director for a five-year term beginning 25 May 2027 has been approved. The appointment will be subject to shareholders’ approval. Jayant Balan heads the room air conditioner business Jayant Balan currently heads the company’s room air conditioner business. To ensure a smooth transition until he assumes office, his designation has now been renamed “Head – Room Air Conditioner Business and Managing Director-Designate”. Venkateshalu Palaniswamy appointed Additional Director The board has also approved the appointment of Venkateshalu Palaniswamy as an Additional Director in the non-independent, non-executive category for a term effective from 12 November 2026. Noel Tata took charge of Voltas in 2017 Noel Tata took over as chairman of Voltas in 2017. In addition to Voltas, he is also set to retire from the boards of several other major Tata Group companies by the end of this year. These companies include Titan, Tata Investment Corporation, Tata Steel and Tata International, from whose boards he will step down by the end of this year. What is ‘Chairman Emeritus’? When an experienced and senior leader retires as a company’s chairman, the company confers on them the honorary title of ‘Chairman Emeritus’ to honour their long experience, guidance and contribution. They are not involved in the company’s day-to-day operations but continue in an advisory role. What is the provision under the Companies Act, 2013? Under the provisions of the Companies Act, 2013, a person aged 70 cannot be appointed or continue as an executive director or whole-time director unless a special resolution is passed by the shareholders.