Cyrus Mistry removal has been in consideration for long: Tata Sons board member to NDTV

There are reports that the Pallonji family could challenge the move, but it seems the Tata Group too has good legal advise before going ahead.

By: Express Web Desk | New Delhi | Updated: October 25, 2016 11:59 am
cyrus mistry, Mistry, Cyrus mistry sacked, Tata, Tata group, Ratan tata, Cyrus mistry ouster, cyrus pallonji mistry, cyrus mistry sacked, Tata group, India business, Ratan Tata, tata and sons, cyrus mistry, tata, tata news, ratan tata interim chairman, business news, indian express news Tata Sons on Monday removed Cyrus Mistry as its Chairman, nearly four years after he took over the reins of the group. Ratan Tata makes a comeback, taking over as the company’s interim boss for 4 months. (PTI Photo)

An unnamed member of the Tata Sons board has reportedly told NDTV that the removal of chairman Cyrus Mistry was in consideration for many months. This suggests that the removal was based on Mistry’s performance. Only two of the Tata Group companies — TCS and JLR — have been showing good numbers in the past few quarters.

WATCH VIDEO: Cyrus Mistry’s Career Timeline

 

“The decision has been long in consideration and it entirely linked to Mistry’s performance as chairman,” the board member was quoted by NDTV. The member said the board has had four years to assess the performance. “Since this is a professionally run company performance was a key factor,” he told NDTV, adding that the change had to be done.

Read Also: Cyrus Mistry sacked, Ratan Tata named interim Chairman of Tata Sons

“The guillotine had to drop,” he said when asked about the abrupt manner in which the decision was taken. Mistry had a six-month notice period.

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WATCH VIDEO: Cyrus Mistry Removed As Chairman of Tata Sons: Here’s What Happened

 

There are reports that the Pallonji family could challenge the move, but it seems the Tata Group too has good legal advise before going ahead.

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  1. A
    ak dev
    Oct 24, 2016 at 11:18 pm
    well done. it should be like this.
    Reply
    1. M
      M.Shiva Kumar
      Oct 24, 2016 at 4:35 pm
      It only shows the Board of Tata Group considers only long term interest of the group and its performance within the framework of law and credibility. Other factors like caste, religion, community or nuturing some fanatical ideas have no place in essment of performance. Meritocracy seem to be the sole criteria. Wish a similar model is cast in our consiution in essing the performance of elected representatives and ministers
      Reply
      1. S
        Skanda
        Oct 24, 2016 at 4:07 pm
        Intolerance move
        Reply
        1. K
          Kayess
          Oct 24, 2016 at 6:00 pm
          Hope there is no external pressures due to sell off of steel company in U.K.
          Reply