NSEAppointment29 Oct 2026 · 29 Oct 2026, 04:32 pm
Appointment
Trent Limited · TRENT
✦ AI SummaryMgmt Change
Trent Limited has informed the Exchange regarding the appointment of Mrs Kalpana Merchant as Non-Executive Independent Director of the company, effective October 30, 2026. The Board has also approved the appointment of Mr Rajiv Dube as an Additional Director (Non-Executive, Non-Independent) and Mr Bahram Vakil as the Chairman of the Company, effective November 12, 2026. Mr Noel N. Tata will retire from the office of Chairman and Director of the Company with effect from November 11, 2026.
Analysis Scores
Earnings Impact5/10
Growth Catalyst3/10
Governance Concern2/10
Regulatory Risk1/10
Balance Sheet Risk4/10
Liquidity Impact8/10
Market Sentiment6/10
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Full Announcement
Trent Limited has informed the Exchange regarding Appointment of Mrs Kalpana Merchant as Non- Executive Independent Director of the company w.e.f. October 30, 2026.
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29th October 2026
To To
Listing Department Corporate Relations Department
The National Stock Exchange of India Limited BSE Limited
Exchange Plaza, Bandra-Kurla Complex, Phiroze Jeejeebhoy Towers,
Bandra (East), Mumbai 400051 Dalal Street, Mumbai 400 001
S ymbol: TRENT Scrip Code: 500251
Sub: Change in Directors - Outcome of the Board Meeting held today i.e. 29th October 2026
Dear Sir / Madam,
1. Retirement of Mr. Noel N. Tata as the Chairman
The Company has adopted the Tata Group Governance Guidelines, which, inter alia, prescribe
the requirements related to Board Composition, Board Committees and the retirement of
directors.
In accordance with the aforesaid Guidelines, Mr. Noel N. Tata (DIN: 00024713) will retire from
the office of Chairman and Director of the Company with effect from the close of business
hours on 11th November 2026.
Mr. Tata has been associated with the Company since 1997 and has provided exemplary
leadership and strategic direction throughout his tenure. Under his stewardship, the Company
has achieved significant milestones, strengthened its market position, and delivered sustained
growth and value for its stakeholders. The Board of Directors places on record its deepest
appreciation and profound gratitude for his invaluable contributions to the Company over the
past 29 years.
In recognition of his substantial and valuable contribution to the Company, the Board has
appointed Mr. Noel N. Tata as Chairman Emeritus with effect from 12th November 2026.
2. Appointment of Mr. Bahram Vakil as the Chairman
Consequent to the above, the Board has appointed Mr. Bahram Vakil (DIN: 00283980) as
Chairman of the Company with effect from 12th November 2026.
3. Appointment of Mr. Rajiv Dube as an Additional Director (Non- Executive, Non-
Independent)
Based on the recommendation of the Nomination and Remuneration Committee, the Board
has approved the appointment of Mr. Rajiv Dube (DIN: 00021796) as an Additional Director
(Non-Executive, Non-Independent) of the Company with effect from 30th October 2026, subject
to the approval of the shareholders.
4. Appointment of Ms. Kalpana Merchant as an Independent Director
Based on the recommendation of the Nomination and Remuneration Committee, the Board
has approved the appointment of Ms. Kalpana Merchant (DIN: 00827907) as an Additional
Director of the Company with effect from 30th October 2026. Further, the Board has also
approved her appointment as an Independent Director of the Company for a term of three
years commencing from 30th October 2026 up to 29th October 2029 (both days inclusive),
subject to the approval of the shareholders.
The details required under Regulation 30 of the Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III thereto and
the SEBI Master Circular dated 30th January 2026, are enclosed herewith.
The Board Meeting commenced at 12.15 p.m. and concluded at 3.45 p.m.
The aforesaid information is also available on the Company's website www.trentlimited.com.
This is for your information and records.
Thank you.
Yours faithfully,
For Trent Limited
Krupa Anandpara
Company Secretary
Membership No.: A16536
Encl.: a/a
Annexure 1
S.No. Particulars Mr. Noel N. Tata Mr. Bahram Vakil Mr. Rajiv Dube Ms. Kalpana
Merchant
1. R eason for change Retirement of Mr. Change in Appointment of Mr. Appointment of
viz. appointment, re- Noel N. Tata (DIN: designation / Rajiv Dube (DIN: Ms. Kalpana
appointment, 00024713) as a Appointment of 0 0021796) as an Merchant (DIN:
resignation, removal, Director and Mr. Bahram Vakil Additional Director 00827907) as an
death or otherwise Chairman of the (DIN: 00283980) as (Non-Executive, Additional Director.
Company. the Chairman of the Non-Independent
Company Director). Further, the Board
also approved her
appointment as an
Independent
Director, for a
period of three
years, subject to
approval of the
shareholders.
2. D ate of appointment With effect from With effect from With effect from With effect from
/ re-appointment / close of business 12th November 30th October 2026 30th October 2026
cessation (as hours on 11th 2026 upto 29th October
applicable) & November 2026. 2029
Term of appointment Not applicable Not applicable Not applicable Three years
/ re-appointment
3. B rief Profile (in case Not applicable Not applicable Attached separately Attached separately
of appointment)
4. D isclosure on Not applicable Mr. Bahram Vakil is Mr. Rajiv Dube is Ms. Kalpana
relationships not related to any not related to any Merchant is not
between directors (in Director of the Director of the related to any
case of appointment) Company Company Director of the
Company
5. I nformation as Not applicable Mr. Bahram Vakil is Mr. Rajiv Dube is Mr. Kalpana
required pursuant to not debarred from not debarred from Merchant is not
BSE Circular with ref. holding the office of holding the office of debarred from
no. director by virtue of director by virtue of holding the office of
LIST/COMP/14/2018 any order of the any order of the director by virtue of
- 19 and the National Securities and Securities and any order of the
Stock Exchange of Exchange Board of Exchange Board of Securities and
India Ltd with ref. no. India or any other India or any other Exchange Board of
NSE/CML/2018/24, such Authority. such Authority. India or any other
dated 20 June 2018 such Authority.
Profiles
Mr. Rajiv Dube
Mr. Rajiv Dube is an Indian industry veteran with over 40 years of multi-sector experience, having
served at the highest echelons of two Indian conglomerates - Tata and Aditya Birla.
An engineer and a post-graduate in Business Management, he began his career on the shop floor of
Tata Motors and rose to be President of its car business before joining the group board of the Aditya
Birla group as an executive director, on which he remained for nearly nine years. He has served on
several other Indian and foreign boards in various capacities over 25 years and brings deep insights
in corporate governance, management and transformation of businesses as varied as auto, metals,
mining, power and renewables, cement, trading, textiles, retail and financial services.
An avid sustainability champion, he was an alternate Council Member of the World Business Council
for Sustainable Development (WBCSD) Geneva and has been active on several industry
bodies. Currently, Mr. Dube is an Independent Director on Boards, an advisory board member and
professor of practice at the Deakin Business School, Melbourne and a senior advisor to firms in India
and Australia.
Ms. Kalpana Merchant
Ms. Kalpana Merchant has over 45 years of experience in the legal profession. She has significant
experience in dealing with the commercial property matters. Her experience also spans diverse
practice areas, including infrastructure, project finance and banking, dispute resolution, capital
markets, and mergers and acquisitions, including joint ventures.
She has been associated with, and has been a partner at, Kanga & Co., AZB & Partners and Jerome
Merchant + Partners. She holds a Bachelor of Laws (LL.B.) degree and a Bachelor of Arts degree with
a major in Psychology and is a qualified solicitor.