Published On: Mon, Feb 6th, 2017

Tata Sons’ shareholders vote to remove Mistry as a Director

Mumbai: Industrial conglomerate Tata Group’s holding company Tata Sons said that a majority of its shareholders have voted to remove Cyrus Mistry as a Director on its Board during an extraordinary general meeting (EGM) held here on Monday.

Mistry still remained as a Director on the Board of the holding arm of the $100 billion-plus group

“The shareholders of Tata Sons, at the extraordinary general meeting held today, passed, with the requisite majority, a resolution to remove Cyrus P Mistry as a Director of Tata Sons,” the company said in a statement.

Tata Sons’ Board had ousted Mistry earlier on October 24, 2016, as its Chairman and appointed Ratan Tata as Interim Chairman.

However, Mistry still remained as a Director on the Board of the holding arm of the $100 billion-plus group.

Tata Trusts hold 66 per cent stake in the holding company of the Tata Group, with Mistry’s family holding over 18 per cent interest.

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Social Media Auto Publish Powered By : XYZScripts.com