Ratan Tata is back as the
interim Chairman of Tata Sons. The Tata Sons Board took a decision to replace Cyrus
P. Mistry as Chairman. This sudden decision which was taken at a Board meeting
held in Mumbai on October 24, 2016, has come as a surprise in the corporate
“The Board has named Mr. Ratan
N. Tata as Interim Chairman of Tata Sons. The Board has constituted a Selection
Committee to choose a new Chairman. The Committee comprises Mr. Ratan N. Tata,
Mr. Venu Srinivasan, Mr. Amit Chandra, Mr. Ronen Sen and Lord Kumar
Bhattacharyya, as per the criteria in the Articles of Association of Tata Sons.
The committee has been mandated to complete the selection process in four
months,” said a release issued by Tata Sons.
Cyrus Mistry was at the helm
of affairs at Tata Sons for the last four years. It is being rumoured that
Mistry was removed at a time when the company is gearing up to push itself
ahead in a big way, especially in the automotive industry. Tata Motors recently
unveiled the Tata Hexa which is planned for launch early 2017.
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