Ratan Tata replaces Cyrus Mistry as Chairman of Tata Sons

In a shocking development, Tata Sons has announced that it has removed Cyrus P. Mistry as chairman of the salt-to-software conglomerate. The decision to remove Mistry was taken at a board meeting in Mumbai on Friday, the company said. Ratan Tata, whom Mistry had succeeded, has been called back to be interim chairman.