company , on Friday, appointed as chairman emeritus with effect from November 12. Tata will step down as chairman on November 11, while , managing director and CEO of , will take over as the company's new chairman.




The company also named as its managing director for a five-year term beginning May 25, 2027.



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The appointments come alongside an improvement in the company's . Voltas reported a 53.5% year-on-year increase in quarterly profit to Rs 526.4 million, while revenue rose 10.9% to Rs 25.68 billion.




The growth was supported by strong demand for room . Revenue from the company's unitary cooling products business increased 29%, reflecting continued demand for cooling solutions.



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Noel Tata's exit from the Voltas chairmanship follows another within the Tata Group. On Thursday, he retired as vice chairman and director of jewellery maker .