In a surprise move, Tata Sons has sacked Cyrus Mistry as its Chairman and Ratan Tata has being appointed as interim chairman of the group.
At a Board meeting that held in Mumbai, he decision was taken of removing Syrus and appointing Ratan Tata for next four months till a new Chairman is appointed. However, Cyrus will remain as the Board member.
The board has constituted a selection Committee which comprises Ratan Tata, Venu Srinivasan, Amit Chandra, Ronen Sen and Lord Kumar Bhattacharyya.
Tata companies include Tata Motors, Tata Steel, Tata Consultancy Services, Tata Power, Tata Global Beverages, Tata Chemicals, Indian Hotels and Tata Teleservices.