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Old 24th October 2016, 17:10   #1
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Default Cyrus Mistry out : N Chandra in as Chairman of Tata Group

As per news just filtering in, Tata Sons Board has appointed Ratan Tata as the interim Chairman of the Tata Group for four months, replacing Cyrus Mistry, who as reports suggest has resigned.
Decision taken in board meeting today. A selection committee of four members has been formed to find the successor.
More details awaited.
Link : http://economictimes.indiatimes.com/...w/55031245.cms

Last edited by nkghai : 24th October 2016 at 17:30. Reason: typo
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Old 24th October 2016, 17:21   #2
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Default re: Cyrus Mistry Out : N Chandra In as Chairman of Tata Group

That is shocking. The reason for resignation is not clear in the news.

Last thing TATA needs prior to launch of Hexa, is instability at management level.

Hope this is resolved soon by getting a worthy successor.
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Old 24th October 2016, 17:43   #3
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Default re: Cyrus Mistry Out : N Chandra In as Chairman of Tata Group

Quote:
Originally Posted by nkghai View Post
replacing Cyrus Mistry, who as reports suggest has resigned.
But economic times report suggest that he has been Removed! All the more shocking. The economictimes link suggests that turnover had reduced and net debts had increased but they have not termed that as the reason for the removal.

Last edited by GTO : 25th October 2016 at 09:38. Reason: Typo
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Old 24th October 2016, 17:50   #4
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Default re: Cyrus Mistry Out : N Chandra In as Chairman of Tata Group

Quote:
Originally Posted by hemanth.anand View Post
But economic times report suggest that he has been Removed! All the more shocking. The economictimes link suggests that turnover had reduced and net debts had increased but they have not termed that as the reson for the removal.
Quite possible, since it comes after a board meeting.
But the first ticker that came in news was, "Cyrus Mistry resigns and Ratan Tata appointed interim chairman" .
Haze will clear slowly.
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Old 24th October 2016, 18:07   #5
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Shocked and surprised at the move.. But let's be very clear! Tata motors is a very very small company within Tata for them to worry about management issues for one product launch! Also Hexa is not going to be a make or break for Tata.. They will still survive irrespective of success it failure. Success of course will be amazing for them!
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Old 24th October 2016, 18:09   #6
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Default Re: Cyrus Mistry looks to turn around Tata Motors

With Cyrus Mistry gone, it would be back as usual at Tata motors. The last thing they wanted when Tata is trying to reinvent itself and Hexa is due for launch.
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Old 24th October 2016, 18:16   #7
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Default re: Cyrus Mistry Out : N Chandra In as Chairman of Tata Group

Quote:
Originally Posted by nkghai View Post
As per news just filtering in, Tata Sons Board has...]
Really shocked by decision. Personally I feel Ratan Tata is too old to be even interim chairman. The performance was poor due to wrong acquisitions and poor foresight when Ratan Tata was at helm of affairs. Cyrus has done a pretty decent job undoing all the mess created by Ratan but it seems Tata Board has different view.
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Old 24th October 2016, 18:23   #8
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Default re: Cyrus Mistry Out : N Chandra In as Chairman of Tata Group

What is intriguing is that Cyrus is backed by major shareholding clout in Tata Sons.
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Old 24th October 2016, 18:27   #9
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Default Re: Cyrus Mistry looks to turn around Tata Motors

Too many changes in the top management in the recent past. Karl Slym (did I name him right?) was the biggest jolt IMHO.
Not a good sign for TM, thinking purely from the Indian Car Scene point of view.

With any change in top management, it takes at least 4-6 months for the company to adapt to the new leadership and the way the company's vision will be driven further. Lets just say, these 4-6 month, the company will be in limp mode (identical to safe mode when you restart your PC when it gets hanged).

Last edited by vinit.merchant : 24th October 2016 at 18:34.
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Old 24th October 2016, 18:29   #10
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Default re: Cyrus Mistry Out : N Chandra In as Chairman of Tata Group

Some news coming is that the removal is due to management issue and Tata Sons ethics issue. Former Fin Minister Mr P Chidambram legal opinion taken before removal.

Last edited by nkghai : 24th October 2016 at 18:33.
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Old 24th October 2016, 19:14   #11
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Default Re: Cyrus Mistry looks to turn around Tata Motors

Wonder how much (if any at all) and in what way it could affect Hexa launch which is just around 3-4 months away. While Ratan Tata might have been on top of things and getting into the flow should not be a big problem IMHO, but his is more likely going to be just filling in the position till a capable leader is found and might stay away from any major decisions. Just a hunch

Last edited by SDP : 25th October 2016 at 06:46. Reason: typo
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Old 24th October 2016, 19:28   #12
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Default Re: Cyrus Mistry looks to turn around Tata Motors

Well so far the group level CEOs are not affected. But as new leader comes in, this might change.
I hate corporate leadership changes - so many challenges, if not handled properly, that too right in the middle of such an important launch.

I guess he was selling off all assets that Mr. Ratan Tata had acquired over the years !!

Last edited by SDP : 25th October 2016 at 06:47. Reason: typo
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Old 24th October 2016, 19:42   #13
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Quote:
Originally Posted by RaghuVis View Post
Tata motors is a very very small company within Tata for them to worry about management issues for one product launch!

Not exactly. The consolidated value of Tata Motors (including JLR) is only second to TCS . It's true that the Indian arm is not very big profit-wise, but even that is an important part in their future plans. It was dear to Ratan Tata and hopefully remain so.
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Old 24th October 2016, 20:06   #14
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Default re: Cyrus Mistry Out : N Chandra In as Chairman of Tata Group

This may have something to do with the much-more-'political' nature of a lot the Tata business prospects: esp in the UK due to BREXIT (Tcs and Tata motors/JLR and otherwise too (Tata Steel selloff/shutting down etc in the uk), and of course in India too where the politics in some sectors is intensifying.

Perhaps Sir Ratan Tata is needed again for PR and political 'authority'-relations reasons.

Last edited by SDP : 25th October 2016 at 06:52. Reason: Multiple typos. Poorly typed post.
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Old 24th October 2016, 20:08   #15
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Default re: Cyrus Mistry Out : N Chandra In as Chairman of Tata Group

Nothing substantial happened as regards to company growth. I think they have been stagnant from the group perspective. Company is too huge to let it just be and a welcome decision.
6 board members voted in favour and 2 abstained.

Last edited by srishiva : 24th October 2016 at 20:11.
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