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Cyrus Mistry removed Tata Industries

Cyrus Mistry removed Tata Industries

LIVE BHARATH : A Tata Sons spokesperson said on Monday,Cyrus Mistry that it has been removed as the director of Tata Industries, a move that will further escalate a boardroom battle that erupted after Mistry’s sacking as head of the $103-billion business empire.

Tata Sons said in October that it had decided to replace Mistry as chairman, a shock announcement that stunned many.

Ratan Tata, father of the salt-to-software conglomerate, took over as interim chairman for four months while a company-appointed search panel was formed to find Mistry’s replacement.

Tata Sons has appealed to shareholders of Tata group companies to remove Mistry from the board.

Ratan Tata futher said to the shareholders that the continued presence of the ousted executive in respective boards is a serious “disruptive influence”, and can make companies “dysfunctional”.

LIVE BHARATH : A Tata Sons spokesperson said on Monday,Cyrus Mistry that it has been removed as the director of Tata Industries, a move that will further escalate a boardroom battle that erupted after Mistry’s sacking as head of the $103-billion business empire. Tata Sons said in October that it had decided to replace Mistry as chairman, a shock announcement that stunned many. Ratan Tata, father of the salt-to-software conglomerate, took over as interim chairman for four months while a company-appointed search panel was formed to find Mistry’s replacement. Tata Sons has appealed to shareholders of Tata group companies to…

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