ET was first to report on Monday that the GEC was dismantled. The two members who got alternate roles include Mukund Rajan and former Titan COO.
The change means the entire dispute could be looked at “with a fresh pair of eyes,” said one person.
Tata Sons is likely to say that there was no breach of corporate governance in its decision to remove Mistry as the chairman of Tata Sons.
The Indian Hotels Company Limited and Tata Sons wish to reiterate that reports about the exit of Rakesh Sarna, Managing Director and CEO of Taj Hotels, Resorts and Palaces, are completely baseless.
A senior leader of an advisory firm that works with the group on HR said he was told all bills for work done till now had to be cleared till more clarity on further assignments.
Cyrus Mistry’s unexpected firing and the ouster of his core team of advisors have left the group’s top management rattled, sources said.
CEO’s mail adds that deliverables for employees remain same and all should focus on delivering a strong performance in the first half of the financial year.
Dr. Ralf Speth, CEO of JLR, and N. Chandrasekaran, CEO & MD of TCS, have been appointed as Additional Directors on the Tata Sons Board.
He asked the leadership of the companies to focus on their respective businesses, without being concerned about change in leadership.
As recently as a week ago, Mistry was actively pushing his plan to introduce a new organisational structure at the conglomerate to make it more collaborative and agile.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon