Cyrus Mistry Removed As Chairman Of Tata Sons, Ratan Tata Back

In a shocking development, Cyrus Mistry was removed as the Chairman of Tata Sons

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In a development that has shocked the corporate world, Tata Sons has announced that it has removed Cyrus P. Mistry as chairman of Tata Sons.

Cyrus Mistry Removed As Chairman Of Tata Sons, Ratan Tata Back
The decision to remove Mistry was taken at a board meeting in Mumbai on Friday, a release from the group said. Ratan Tata, whom Mistry had succeeded, has been called back to be interim chairman.

"Tata Sons today announced that its Board has replaced Mr. Cyrus P. Mistry as Chairman of Tata Sons. The decision was taken at a Board meeting held here today," a release stated.

The Board has named Mr. Ratan N. Tata as Interim Chairman of Tata Sons. The Board has constituted a Selection Committee to choose a new Chairman. The Committee comprises Mr. Ratan N. Tata, Mr. Venu Srinivasan, Mr. Amit Chandra, Mr. Ronen Sen and Lord Kumar Bhattacharyya, as per the criteria in the Articles of Association of Tata Sons. The committee has been mandated to complete the selection process in four months.

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Read more about: cyrus mistry, tata sons
Story first published: Monday, October 24, 2016, 18:47 [IST]
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