Agreed to perform Tata Chairman’s role in interest of stability: Ratan

Taking over as the interim Chairman of the Tata Sons after the sacking of Cyrus Mistry, Ratan Tata wrote to employees stating he agreed to take up the role of interim Chairman in the interest of stability and reassurance to the group.

In a letter, Tata, 78, said the board of directors of Tata Sons in its meeting on Monday replaced Cyrus P Mistry as Chairman, with immediate effect.

“A new management structure is being put in place and a selection has been constituted to identify the next Chairman of Tata Sons,” he said.