Cyrus Mistry removed as Tata Industries director
Cyrus Mistry has been removed as director of Tata Industries following shareholders’ vote. An Extraordinary General Meeting (EGM) was called to remove him. Tata Industries is a subsidiary of Tata Sons. Last week, the interim chairman of Tata Sons, Ratan Tata had appealed to the shareholders to remove Mistry on the ground that his presence on the board would be disruptive to the functioning of the Tata group of companies.Cyrus Mistry was already sacked as chairman of Tata sons. At present, the Tata group is trying to remove him from the various other positions he holds in Tata group of companies. To this effect, Tata Power has called an Extraordinary General Meeting on December 26th.
Cyrus Mistry joined the board of Tata Sons in 2006 and was made as the Chairman of India’s largest conglomerate, Tata Group, in December 2012. But, he was sacked as Chairman of Tata Group on 24th October 2016 and Ratan Tata was made as the interim Chairman of the Group. A 5-member search committee has been formed by Ratan Tata to find a suitable successor within a time span of four months.