The decision to remove “Cyrus Pallonji Mistry” as the Chairman comes of Tata Sons comes as a big shock to the entire Indian industry. Ratan tata takes charge as Interim Chief of the conglomerate. The decision of Cyrus Mistry’s exile has been taken at Board meeting held in Mumbai. The company had announced Ratan Tata has taken charge as Interim Chairman of Tata sons.
Though the company has not revealed any reasons for his termination. His stance on shedding Non-profit business hugely disappointed the shareholders,while Tata sons are the major shareholder of Tata Group
He was appointed on December 28, 2012. The organization has seen devastating losses during his reign and his approach did not the help to recover from the loss of this $100 billion salt to software conglomerate.
Presently,Ratan Tata took charge as Interim Chairman of Tata Group which would be for a short period of four months, while the successor will be decided by the committee which includes Ratan Tata, Ronen Sen, Venu Srinivasan, Amit Chandra.
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