Tata Steel removes Cyrus Mistry as chairman, appoints OP Bhatt in his place
Tata Steel on Friday removed Cyrus Mistry as chairman and appointed OP Bhatt in his place.
Zee Media Bureau
New Delhi: Tata Steel on Friday removed Cyrus Mistry as chairman and appointed OP Bhatt in his place.
In a sudden and dramatic turn of events last month, Cyrus Mistry was unceremoniously removed as the chairman of Tata Sons and replaced by his predecessor Ratan Tata in the interim, triggering a confrontation between the single-largest shareholder and the Tatas.
Returning to Tata Sons after the abrupt removal of Mistry, Tata has moved quickly to consolidate his grip over the USD 103-billion salt-to-software group by seeking to remove the ousted chairman from boards of group firms.
TCS has called an EGM on 13 December, Indian Hotels has convened it on 20 December and Tata Chemicals on 23 December to seek Mistry's ouster.