Following shareholders’ vote during an extraordinary general meeting (EGM), Cyrus Mistry was removed as director of Tata Industries on 12 December 2016.
It is the first such instance in which an executive has been ousted from the board since his removal as Chairman of Tata Group.
As per reports, the extraordinary general meeting was called exclusively to remove him from his office.
Tata Industries is a subsidiary of Tata Sons. Several Tata companies namely Tata Motors, Tata Power and Tata Steel holds equity in the company.
Mistry was also sacked as TATA Group chairman on 24th Oct 2016.
He was replaced by Ratan Tata in the interim.
TATA Power has called an EGM on 26th Dec 2016; Mistry is currently Chairman of TATA Power.
The Board of Tata Industries, post the EGM, constitutes K.R.S. Jamwal, R. Bhinge, Ireena Vittal, Ashish Dhawan, N. Srinath, and F.N. Subedar.
Cyrus Pallonji Mistry- Joined: 2006 (TATA Sons)
- Appointed Chairman of the Board on Dec 2012.
- Irish businessman of Indian origin.
- Sixth chairman of TATA Group.
- Only the second to not bear the surname Tata.
