December 7, 2016 / 2:10 PM / 8 months ago

Tata Sons seeks shareholder support before vote to remove Mistry from group companies

NEW DELHI, Dec 7 (Reuters) - Tata Sons' interim chairman, Ratan Tata, in a letter seeking support of shareholders, said Cyrus Mistry's continued presence on the board of Tata group companies is a "serious disruptive influence" which can make the company dysfunctional.

The letter, issued on Wednesday, comes days ahead of shareholder meetings at six Tata group companies, including Tata Motors and Tata Consultancy Services, in which Mistry is still a director. Shareholders are expected to vote on Mistry's ousting at these meetings.

In a bitter boardroom coup in October Mistry was ousted as chairman of Tata Sons, holding firm of the $100 billion Tata empire, with patriach Ratan Tata back at the helm temporarily. A public power struggle has since ensued between the two sides. (Reporting by Aditi Shah and Promit Mukherjee; Editing by Adrian Croft)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below