The board of Tata Sons on Monday replaced chairman Cyrus Mistry and brought back Ratan Tata as interim chairman for four months. In a letter to employees of the group, Ratan Tata said the board had requested him to perform the role of chairman and he had agreed to do so “in the interest of stability of and reassurance to the Tata group”.
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Ratan Tata had been Tata Sons chairman from 1991 until his retirement on December 28, 2012. Cyrus Mistry had succeeded Tata to be the sixth chairman of the Tata group. While Mistry will remain an independent director on the board of Tata Sons – a position he held before he became chairman – he will quit as chairman of all group companies.
Business Standard explains Mistry’s sudden exit as Tata Sons chief and how the story unfolded through 10 reports:
- Cyrus Mistry removed, Ratan Tata returns
- The turn of events
- Mistry’s focus during his stint
- Experts thought Mistry was a succession experiment gone wrong
- ‘Business as usual’ at Tata Sons
- The agenda for Ratan Tata
- End of a vision?
- An exit in a hurry?
- For Tata trusts, was it a lack of trust in Mistry?
- Slow equity support to Tata group firms
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