Cyrus Mistry Replaced As The Chairman Of Tata Sons, Ratan Tata Will Takeover As Interim Chief For 4 Months

Cyrus Mistry is no longer the chairman of Tata Sons, one of India's biggest corporations and the holding company of Tata Group which is India's largest conglomerate.?The decision has been taken after the board meeting today.?

gg2.net

The 48-year-old took over as the chairman almost four years ago from Ratan Tata and will now be replaced by him again. Mr Tata, 78, however will only be the interim boss and his tenure is estimated to be around 4 months.

reuters

According to Economic Times, a selection panel for his successor is already in place. It includes Ratan Tata, Ronen Sen, Venu Srinivasan and Amit Chandra. Though no specific reasons were given for Mistry's sacking, the report also suggests that the board disagreed with his approach of shedding loss-making ventures and concentrating only on cash-cows!