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

Published 12/07/2016, 09:10 AM
Updated 12/07/2016, 09:20 AM
© Reuters. Cyrus Mistry attends the "Vibrant Gujarat Summit" at Gandhinagar
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NEW DELHI (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 (NS:TAMO) and Tata Consultancy Services (NS:TCS), in which Mistry is still a director. Shareholders are expected to vote on Mistry's ousting at these meetings.

© Reuters. Cyrus Mistry attends the "Vibrant Gujarat Summit" at Gandhinagar

In a bitter boardroom coup in October Mistry was ousted as chairman of Tata Sons, holding firm of the $100 billion Tata empire, with patriarch Ratan Tata back at the helm temporarily. A public power struggle has since ensued between the two sides.

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