Tata Steel Removes Cyrus Mistry, Appoints O P Bhat As Chairman


New Delhi: Tata Steel on Friday removed Cyrus Mistry as the chairman of the organisation. Independent Director O P Bhat has been appointed in his place.

In a sudden decision last month, Cyrus Mistry was sacked as the chairman of Tata Sons and replaced by Ratan Tata as the interim chairman. Justifying Mistry’s ouster from the salt-to-software conglomerate, blamed Mistry’s abrupt exit on what it called breach of trust and poor performance. They also accused him of eroding shareholder value.

In a statement to the media, Tata Sons has earlier said Mistry tried to reduce the role of Tata Sons, controlled by a series of charitable trusts. Mistry, on his part, argued that he tried to create internal barriers for better governance.


Previous articleKim Kardashian’s Husband To Remain In Hospital
Next articleMan Arrested Over Tagore’s Nobel Prize Stealing Row