Noel Tata steps down after 16 years as chairman and is named Chairman Emeritus; Bahram Vakil takes charge on November 12, while Abizer Diwanji joins the board. Tata Investment Corporation said on Wednesday that Bahram Vakil has been appointed chairman from November 12. Vakil succeeds Noel Tata, who retires as chairman and director at the close of business on November 11 under the Tata Group Governance Guidelines.