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What could be a perfect script Bollywood masala film with lots of Hip Hop moments has become a fact in the history of Tata Group. In a surprise move or well planned decision of Ratan Tata to take back the control to Tata Family is now a fact in the corporate world.
TATA BYE BYE Cyrus Mistry for Tata Group.
Yes Ratan Tata has written to the employees of India’s largest Blue Chip conglomerate, informing them that “in the interest of the stability of and reassurance to the Tata Group,” he is returning as Chairman.
Evergreen Ratan will help Tata Group to stabilize by replacing Cyrus Mistry in a surprise move. A committee has been given four months to find the new chairman, Till such event again Ratan age in Tata Group.
“Tata Sons today announced that its Board has replaced Mr. Cyrus P. Mistry as Chairman of Tata Sons. The decision was taken at a board meeting held here today,” the company said in a statement.
Biggest group of Indian Corporate History Tea to Transport with more than 100 companies in multiple countries a true MNC and whose empire ranges from Jaguar Land Rover to TATA salt “Desh Ka Namak”.
Cyrus Mistry's sacking comes a month after this scathing review of his performance in The Economist https://t.co/Ah63slBBbC
— Shivam Vij (@DilliDurAst) October 24, 2016
Mr Mistry, 48, era started in December 2012, becoming the first non Tata chief of the conglomerate. All strategic moves to restructure the management in Top level with young guns had a toll in his own fortune.
Mr Mistry had been battling problems on a number of fronts in recent months which had the deep rooted history in the past,while Docomo and other issues made him helpless and ultimately costed his job as TATA Chief.
But sources close to Mistry and Sapporji Palonji Group says Cyrus will ask for legal help against the decision.
Update: The Shapoorji Pallonji family is reportedly against the move and claims #CyrusMistry's removal is illegal https://t.co/YafHyWsF55
— The Wire (@thewire_in) October 24, 2016
#TATA says goodbye to Cyrus P. Mistry as Chairman with immediate effect. Fireworks before Diwali. pic.twitter.com/dxBZDdQu9h
— Aditya Raj Kaul (@AdityaRajKaul) October 24, 2016
