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Cyrus Mistry removed as director of Tata industries

Monday, 12 December 2016 12:13

After being sacked as chairman of Tata Sons, Cyrus Mistry has now lost his position as director of Tata industries. He was removed following a vote during the Extraordinary General Meeting (EGM) on Monday. Tata Sons, the holding company of all Tata businesses, had appealed to the shareholders to remove Mistry from the board. They claimed he was "likely to lead to fragmentation of the Tata Group." After being fired in October, Mistry remains on the board of six Tata Group companies. It is reported that all the companies will hold similar meetings over the next few weeks to remove Mistry.

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