In one of the most dramatic developments which took corporate world by surprise and left media puzzled, the Tata Sons recently dumped its chairman Cyrus Mistry and made Ratan Tata the interim chairman. Tata will head the group for the next four months, till a search committee finds a new successor.
Former Tata sons chairman Cyrus Mistry newsgram
“He has taken the step to save himself from getting caught in scam deals, but he will not be spared whenever he is tried in court,” the BJP leader said.
In happier times ndtv
Reportedly, Tata Sons was unhappy with Mistry’s approach of shedding non-profit businesses, including the conglomerate’s steel business in Europe, and concentrating only on cash cows. At the same time, Mistry has accused the company of governance failures and unacceptable interference by Ratan Tata in running the affairs of the group.