Mistry’s Removal Necessary for the Success of Group: Ratan Tata

In a statement to Tata employees on Tuesday, Ratan Tata defended the board’s decision to remove Cyrus Mistry.

Ratan Tata and Cyrus Mistry. (IANS)

In the ongoing battle that has ensued after the sacking of Cyrus Mistry by Tata Group, its interim chairman for four months, Ratan Tata has fired news shots at Mistry, and clarified more on the company’s decision to sack him.

In a statement to Tata employees on Tuesday, Ratan Tata defended the board’s decision. He said that a change in leadership at the Tata Group was a “well-considered but difficult decision made after careful, thoughtful deliberations.”

Hinting at what went wrong under Mistry’s leadership, he elaborated that the Tata Group’s focus should be on leading rather than following other companies.

While ensuring the employees that he will work to maintain stability and continuity of leadership, he added that removal of Cyrus Mistry was absolutely necessary for the future success of the Tata Group.

Also Read: Tata Sons Working on Plans to Buy out Mistrys’ Stake in Company

Cyrus Mistry (Photo Courtesy: Dhiraj Singh/Bloomberg)

Earlier on Tuesday, Cyrus Mistry had refuted allegations that the manner in which the Tata’s break-up with DoCoMo was handled by Cyrus Mistry was among the reasons that led to his ouster as Tata Sons chairman.

His office on Tuesday said that all decisions were in concurrence with Ratan Tata and the board.

To begin with, the agreement with DoCoMo had been executed before Mistry became executive chairman of the Tata Group. Insinuations that DoCoMo issue was handled under the watch of Mistry in a manner inconsistent with Tata culture and values are baseless.

Statement by Cyrus Mistry’s Office

(With PTI, IANS inputs)