New Delhi: After removing Cyrus Mistry as the chairman of Tata Power and Tata Chemicals, Tata Steel on Friday removed Cyrus Mistry as the chairman of Tata Steel and appointed Independent director OP Bhatt as the interim chairman till December 21.
As per reports, the board has decided to remove Cyrus Mistry and Nusli N Wadia as the directors of the company. A meeting will be held to remove Mistry and Wadia by the Extraordinary General Meeting (EGM) on December 21.
In a press release, the company said, “The board appointed the independent director as the Chairman keeping in mind principles of good corporate governance and to provide impartial leadership to the Company in its preparation and conduct of the EGM.”
As per reports from various sources, Mistry was removed as the chairman with a majority to support the removal decision.
Cyrus Mistry was removed from the chairmanship of Tata Sons last month with Ratan Tata, who will be taking over as the interim chairman for four months.
First Published | 25 November 2016 8:39 PM