The spat between Tata Sons and Cyrus Mistry turned uglier on Tuesday as interim chairman of the group Ratan Tata said that removal of Mistry was “absolutely necessary” for the “future success” of Tata Group.
“The decision to change the leadership of Tata Sons was a well-considered and serious one for its board members. This difficult decision, made after careful and thoughtful deliberation, is one the board believes was absolutely necessary for the future success of the Tata Group,” the interim chairman wrote to employees of USD 100 billion Group.
The letter came shortly after Mistry ratcheted up war of words by rebutting “insinuations” of mishandling a dispute with Japan’s NTT DoCoMo, saying Ratan Tata was party to all decisions regarding the telecom venture.
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Tata, 78, who retired as Tata Group Chairman nearly four years back, justified his return for “maintaining stability and continuity of leadership” and promised to give the group “a world-class leader” when a fulltime boss is appointed.
He added that will now work to maintain stability and continuity of leadership. He told the employees of Tata that “focus should be on leading rather than following”.
Earlier in the day, ousted chairman Cyrus Mistry dismissed the allegations made against him by Tata Sons regarding Docomo deals, saying it was ‘false and mischievous’ to suggest that he acted on his own or without the knowledge of Ratan Tata on the Tata-Docomo matter.
A statement issued by his office said the suggestion that Ratan Tata and trustees would not have approved of the manner in which the litigation against Docomo was conducted was contrary to what transpired.
All decisions on Tata-Docomo deal were taken with approval of Tata Sons Board and actions were consistent with every such collective decision, it added.