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Ratan Tata Enters, Cyrus Mistry Exits: Search On For Successor

The shocking news of Cyrus Mistry’s replacement as chairman of Tata sons turned down many tables. The company announced the news in a terse press release giving no indication regarding the reason for Tata’s sacking. Ratan Tata, who Mistry had replaced on December 29, 2012, has been appointed as interim Chairman for four months during which a search committee will look for a replacement.

Ratan Tata

After the board meeting, 48-year-old Mistry is no longer the chairman of Tata Sons chairman. The meeting with 11 board members, including Nitin Nohria, the dean of Harvard Business School, and a top investment strategist Farida Khambata. The 78-year-old Ratan Tata left the meeting as interim chairman of Tata Sons.

“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,” the group said in a statement. A new selection committee is all set to look for a candidate for the position of chairman. The reason for Mistry’s removal is not clear.

The decision welcomed many trollers and twitteratis just can’t sit back on Cyrus Mistry’s replacement with Ratan Tata:

Source: PTI

Ratan Tata Enters, Cyrus Mistry Exits: Search On For Successor is a post from ExGag.



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