Noel Tata will step down as Chairman and Non-Executive, Non-Independent Director of Trent Ltd., concluding an association of nearly three decades with the Tata Group’s flagship retail company, during which he played a pivotal role in shaping its transformation into one of India’s largest and most successful retail businesses.

Speaking at Trent’s 47th Annual General Meeting (AGM), Tata informed shareholders that the meeting would mark his final AGM as Chairman of the company.

“As you might be aware, this will be my last annual general meeting as chairman,” he said while addressing shareholders.

Noel Tata’s journey with Trent began in 1998 when he joined the company’s Board of Directors. Established by his mother, Simone Tata, following the divestment of the Lakmé business, Trent was at the time focused on building its presence in the emerging fashion retail sector. In June 1999, Noel Tata was appointed as the company’s first Managing Director, laying the foundation for its long-term growth and expansion.

His retirement comes in accordance with the Tata Group’s retirement policy, which stipulates that executive directors retire at the age of 65, while non-executive directors retire at the age of 70.

Reflecting on Trent’s evolution in the company’s FY26 Annual Report, Tata spoke about the retailer’s remarkable journey from its early beginnings to its current position as a diversified consumer business.

“As I look back at Trent’s journey, I am filled with a deep sense of reflection. What started as a thoughtful transition from Lakmé into an emerging fashion retail space has over time become something even more meaningful,” he wrote.

Under Noel Tata’s leadership, Trent significantly expanded its retail footprint beyond its flagship Westside format. The company successfully launched and scaled Zudio, which has emerged as one of India’s fastest-growing value fashion retail chains. It also strengthened its presence in the grocery segment through its Star stores network, creating a diversified retail portfolio catering to a wide range of consumer needs.

Over the years, Trent has evolved into a key pillar of the Tata Group’s consumer business strategy, with operations spanning fashion, value retail, and grocery retail.

For FY26, Trent reported operating revenue of Rs 19,701 crore and operating EBIT of Rs 2,341 crore, highlighting the scale and financial strength the company has achieved during Noel Tata’s tenure.

His departure marks the end of a significant chapter in Trent’s history, one defined by expansion, innovation, and the creation of some of India’s most recognized retail formats. As the company enters its next phase of growth, Noel Tata leaves behind a legacy that has helped establish Trent as one of the country’s most influential retail enterprises.