New Delhi: In a surprise move, Tata Sons have removed Cyrus Pallonji Mistry as the Chairman of the company while Ratan Tata will be the interim chairman for 4 months.
According to sources, a board meeting on Monday decided to remove Mistry as the chairman while appointing a search panel to look for replacement.
The board has appointed Chairman Emeritus Ratan Tata as the chairman of the company for four months during with the search panel will have to find a replacement for Mistry.
As per PTI, the search panel comprise of RatanTata, Venu Srinivasan, Amit Chandra, Ronen Sen and Lord Kumar Bhattacharya.
Cyrus Pallonji Mistry, 48, was appointed the chairman of Tata Group on 28 December 2012.
He was the sixth chairman of the group and the second not to be named Tata boss after Nowroji Saklatwala.
Bureau Report
Leave a Reply