Reason for Resignation: Retirement in accordance with Tata Group Governance Guidelines
Effective Date of Resignation: Close of business hours on 11th November 2026
Date of Resignation Letter: Not Specified
Duration in Role: Associated with the Company since 1997 (29 years)
Board's Acknowledgment / Statement: The Board placed on record its deepest appreciation and profound gratitude for his invaluable contributions over 29 years, noting exemplary leadership, strategic direction, achievement of significant milestones, strengthened market position, and sustained growth and value for stakeholders
Replacement Appointed: Mr. Bahram Vakil appointed as new Chairman effective 12th November 2026
Regulatory Compliance Statement: Disclosure made pursuant to 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
Delay in Disclosure: Not Specified
Section B – Additional Observations or Disclosures
Transition & Internal Role Reallocations: Mr. Noel N. Tata appointed as Chairman Emeritus with effect from 12th November 2026 in recognition of his substantial and valuable contribution to the Company
Successor Appointments:
Mr. Bahram Vakil (DIN: 00283980) appointed as Chairman effective 12th November 2026
Mr. Rajiv Dube (DIN: 00021796) appointed as Additional Director (Non-Executive, Non-Independent) effective 30th October 2026, subject to shareholder approval
Ms. Kalpana Merchant (DIN: 00827907) appointed as Additional Director and Independent Director for a term of three years from 30th October 2026 to 29th October 2029, subject to shareholder approval
Section C – Financial & Governance Disclosures
Audited Financial Results: Not Specified
Auditor's Report Summary: Not Specified
Dividends / Capital Changes / Buybacks: Not Specified
Board / Committee Updates:
All appointments based on recommendation of Nomination and Remuneration Committee
Board meeting held on 29th October 2026 commenced at 12:15 p.m. and concluded at 3:45 p.m.
All new directors confirmed not related to any existing director and not debarred from holding office by SEBI or any other authority
Additional Director Profiles
Mr. Rajiv Dube: Indian industry veteran with over 40 years multi-sector experience, served at Tata and Aditya Birla groups. Engineer and post-graduate in Business Management. Began career at Tata Motors, rose to President of car business. Served on Aditya Birla group board as executive director for nearly nine years. Served on several Indian and foreign boards for 25 years with expertise in corporate governance, management and transformation across auto, metals, mining, power, renewables, cement, trading, textiles, retail and financial services. Sustainability champion, former alternate Council Member of World Business Council for Sustainable Development (WBCSD) Geneva. Currently Independent Director, advisory board member and professor of practice at Deakin Business School Melbourne, and senior advisor to firms in India and Australia.
Ms. Kalpana Merchant: Over 45 years experience in legal profession with significant expertise in commercial property matters. Experience spans infrastructure, project finance, banking, dispute resolution, capital markets, and mergers & acquisitions including joint ventures. Former partner at Kanga & Co., AZB & Partners and Jerome Merchant + Partners. Holds LL.B. degree and Bachelor of Arts degree with major in Psychology. Qualified solicitor.
