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Cyrus Mistry ouster: Ratan Tata writes to PM Narendra Modi

Ratan Tata has informed Prime Minister Narendra Modi on Monday about change in the top management of Tata Group.

By PTI

| Published: Monday, October 24, 2016, 21:57 [IST]

Mumbai, Oct 24: Ratan Tata has informed Prime Minister Narendra Modi on Monday about change in the top management of Tata Group.

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.

Back in interest of stability: Ratan Tata's letter to Tata staff Back in interest of stability: Ratan Tata's letter to Tata staff

Tata Sons has not said why it removed Mistry, who had been at the helm of the $108 billion group, India's most prominent and reputed industrial brand, for close to four years.

PTI