As per the reports, Cyrus Mistry who was holding the position of Tata Industries Director has been removed on Monday after an Extraordinary General Meeting (EGM).
Earlier this year, In October, Mistry was sacked out from the post of Tata Industries chairman and other post holding with Tata industries.
For that instance, Former Chairman of Tata Industries, Ratan Tata came back as a chairman.
The company said in a statement, “Tata Industries, at its extraordinary general meeting on December 12, 2016, removed Cyrus P Mistry, as a director of the company. Hence, he also has ceased to be the chairman of the company”.
If reports are to be believed, a majority of the stakeholders voted in favor of removing Cyrus Mistry from the post of Director.
Meanwhile, Mr. Ratan Tata wrote in a letter, “The right step would have been for him to resign as director. Unfortunately, he has not yet done so and his continued presence as a director is a seriously disruptive influence on these company boards, which can make the company dysfunctional, particularly given his open hostility towards the primary promoter, Tata Sons”.
According to the sources, Cyrus Mistry joined the organization as the Board member of Tata Sons in the year 2006 and later in December 2012 appointed as the chairman of the organization.