Auld was appointed as the CEO in April 2011.
"Board of directors of the company has reappointed Philip Auld as the chief executive officer and manager of the company for a further period of three years, with effect from May 1, 2014, subject to necessary approvals," the company said in a BSE filing.
Earlier, Noel N Tata took over as the chairman of the company following the retirement of F H Kavarana.
Tata, who has been the vice-chairman of the company, assumed the new role on March 31, 2014.
Established in 1998, Trent runs lifestyle chain Westside, hypermarket chain Star Bazaar and Landmark, a books and music chain.
As on December 31, 2013, Trent operated 79 Westside stores.
Earlier this year, British retail major Tesco formed a joint venture with the Tata Group firm by buying a 50 per cent stake in Trent Hypermarket Ltd (THL) for about 85 million pounds.
THL operates the Star Bazaar retail business in India.