Tata Sons, TCS boards meet today
The board of Tata Sons is meeting on Thursday, its first after the 24 October ouster of Cyrus Mistry as chairman
Mumbai: The boards of Tata Sons Ltd and Tata Consultancy Services (TCS) Ltd are meeting on Thursday. It’s the first meeting since 24 October when Cyrus P. Mistry was ousted by the board as it chairman, less than four years after he took the helm, and named his predecessor Ratan Tata interim chairman for four months.
The board includes Ratan N. Tata, Nitin Nohria, Venu Srinivasan, Ajay Piramal, Amit N. Chandra, Vijay Singh, Farida Khambata among others.
This will also be the first board meeting for Ralph Speth, chief executive of Jaguar Land Rover Automotive Plc and N. Chandrashekaran,chief executive and managing director, Tata Consultancy Ltd, who were inducted on the board on 25 October.
It’s not clear whether Mistry will attend the Tata Sons board meet but he is likely to be present for the TCS meet which has been called to fix the date for the extraordinary general meeting (EGM).
Since the boardroom coup, both sides have been engaged in an intense war of words with arguments and counter argument even as Tata Sons has sought a shareholder resolution to remove Mistry as a director from the boards of various operating companies.
In the half a dozen board meetings that have followed, Tata Sons has replaced Mistry as the chairman of TCS and Tata Global Beverages Ltd. It has also sought shareholder resolution to remove Nusli N. Wadia as an independent director from the companies.