Ratan Tata attempts to calm frayed nerves over Chairman's ouster, asks executives to go about business as usual

Zee Media Bureau

Mumbai: Ratan Tata, who took charge over as the interim Chairman of Tata Sons, the holding company of Tata group, met the top executives of the group companies and sent positive signals by saying that the new Chairman will be in place soon.

He said that he assumed the role of interim chairman after the Chairman Cyrus Mistry's ouster for stability and continuity in the group so that there is no vacuum. He added that leaders of group companies should focus on their businesses without being concerned about change in top leadership.

"The companies must focus on their market position vis-a-vis competition, and not compare themselves to their own past. The drive must be on leadership rather than to follow it," Tata said, speaking to the group companies` managing directors and senior corporate leaders, said Tata.

Ratan Tata added that he is looking forward to working together with the group executives as in the past.

"An institution must exceed the people who lead it. Act as leaders in respective markets and focus on enhancing returns to shareholders" Tata called upon the senior executives. He urged the leaders of the group companies to focus on their respective businesses, "without being concerned about change in leadership".

Ratan Tata met with the Tata Group CEOs in the backdrop of the ouster of Cyrus Mistry as Chairman of Tata Sons. Ratan Tata was replaced as the interim chairman y the board and a new committee set up to narrow down on a new Chairman of Tata Sons within the time frame of four months.

The Board also constituted a Selection Committee to choose a new Chairman for Tata Sons, comprising Ratan N. Tata, Venu Srinivasan, Amit Chandra, Ronen Sen and Lord Kumar Bhattacharyya.

With agencies inputs