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All you need to know about Cyrus Mistrys sacking as Tata Sons chief, aftermath | business-news | Hindustan Times

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Tata Sons chief, aftermath change

P ti lF t
BUSINESS
Updated: Jan 12, 2017 18:19 IST

HT Correspondent
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Hindustan Times, New Delhi

Ok Jaanu review:
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keep the Mani
Ratnam romance
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Jan, 13, 2017, 20:28

Tata Sons names N


Chandrasekaran as
new group
chairman: Sources
After Cyrus Mistrys (right) ouster in October, Tata Sons board had set up a five- Jan, 12, 2017, 23:0
member selection committee that included Ratan Tata to choose a new chairman
within the next four months. (PTI File Photo)

Karan Johar reveals


Kajol can never
The Tata Group surprised everyone when on October 24,
come back to his
the Tata Sons board, the holding company for the life in new book.
Read here
conglomerate, approved a resolution to remove Cyrus
Jan, 13, 2017, 16:48
Mistry as chairman of Tata Sons. There has been a war
of words since between Cyrus Mistry and Tata Sons and
N Chandrasekaran:
a legal
battle has ensued. Key facts about the

http://www.hindustantimes.com/...an-here-s-all-you-need-to-know-about-cyrus-mistry-s-sacking/story-BRcPZM9wCvMIjgM11zM30K.html[14-01-2017 3:32:09 PM]


All you need to know about Cyrus Mistrys sacking as Tata Sons chief, aftermath | business-news | Hindustan Times

new Tata Sons


chairman
Why was Cyrus Mistry removed?
Jan, 13, 2017, 1:1

Without
giving any specific reasons, Tata Sons simply
said growing trust deficit and repeated departures from editor's pick

the culture and ethos of the Tata group was the reason
Ti
behind the removal of Mistry. The board also said Ratan
Ba
Tata would take over as the interim chairman of Tata vid
ap
Sons and a committee was formed to hunt for a new In
ha
chairman in four months.
pa
at
The
Trusts, which are chaired by Ratan Tata and control to

about 66% of the shareholding of Tata Sons, were also


G
reportedly unhappy that the performance of Tata Sons gr
gl
was increasingly dependent on only two companies - ba
Tata Consultancy Services and Jguar Land Rover.

Pu
Soon after Mistry was sacked, Ratan Tata wrote a letter el
to group employees in a bid to end the uncertainty. 20
Co
be
The
board has requested me to perform the role of the bo
an
chairman and I have agreed to do so in the interest and ru
reassurance of the Tata group, he had said.
In
th
What is the role of Tata Sons? m
di
Tata
Sons is essentially the holding company of the Tata wo
of
Group, which is a conglomerate of over 100 companies Ta
Na
ranging from salt to software, automobiles and aviation bu
with combined revenues in excess of $100 billion. ta
sp
Typically, the chairman of Tata Sons is also the chairman Ja

of key group companies. However, in this case, while


Ratan Tata was named the interim chairman of Tata
top news

http://www.hindustantimes.com/...an-here-s-all-you-need-to-know-about-cyrus-mistry-s-sacking/story-BRcPZM9wCvMIjgM11zM30K.html[14-01-2017 3:32:09 PM]


All you need to know about Cyrus Mistrys sacking as Tata Sons chief, aftermath | business-news | Hindustan Times

Sons, Mistry still remains the chairman of various group


companies. Kh
ca
ro
How powerful are the Tata Trusts? M
bi
br
The
Tata founders bequeathed most of their personal
na
wealth to the various trusts they created for carrying th
G
philanthropic activities. These trusts,
which include Sir sa
Ha
Dorabji Tata Trust, Sir Ratan Tata Trust and Navajbai
m
Ratan Tata Trust, collectively control about 66% of Tata V

Sons, and are thus hugely powerful. Just before Mistry


Po
was appointed chairman, Tata Trusts was given special of
Po
powers to nominate, approve and remove chairman
of
O
Tata Sons. ov
Ja
bu
Who will be appointed as the chairman of Tata Sons? ov
dr
in
The
committee formed to find the next chairman has Na
been given four months to come up with the future
chairman. Just a day after Mistrys sacking, TCS CEO N Si
re
Chandrasekaran and JLR chief Ralph Speth were M
pr
inducted on the Tata Sons board. Apart from the two, tra
Trent MD Noel Tata,
Pepsico head Indra Nooyi and of
of
former Vodafone chief Arun Sarin were some
of the w
bu
names that had cropped as potential candidates. Former ha
TCS vice-chairman S Ramadorais resignation as the ra

chairman of the governments National Skills


Fa
Development Agency had fuelled speculation of his da
th
probable appointment as Tata Sons chairman. Tata Sons od
hasnt officially commented on the matter. However, M
da
sources at Tata group have indicated that so
sh
Chandrasekaran is the top contender for the post given bi
his strong track record at TCS.

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All you need to know about Cyrus Mistrys sacking as Tata Sons chief, aftermath | business-news | Hindustan Times

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All you need to know about Cyrus Mistrys sacking as Tata Sons chief, aftermath | business-news | Hindustan Times

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