As sensational development that brings various excitements to the corporate and other individual by surprises, Cyrus Mistry was on Monday sacked as administrator of Tata Sons. He was successfully replaced by Ratan Tata, who will take the responsibility of interim chairman for coming four months. The declaration came after the leading group of Tata Sons met here and chose to supplant 48-year-old Mistry, who had assumed control from Ratan Tata in 2011.
The board named a five-member search group, which incorporates Tata, to pick a successor to Mistry inside four months. Mistry was picked as Tata’s successor in November, 2011, and was selected Deputy Chairman of Tata Sons, whose board he had entered in 2006. He was made executive on the premise of his representation from Shapoorji Palonji, the biggest shareholder in Tata Sons.
“Tata Sons today declared its board has supplanted Mr Cyrus P Mistry as Chairman of Tata Sons. The choice was taken at an executive meeting held here today,” a Tata Sons articulation said.
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