Cyrus Mistry replaced by Ishaat Hussain as TCS Chairman with immediate effect
Cyrus Mistry has now been replaced as the chairman of Tata Consultancy Services (TCS) with immediate effect on 10 November. He was earlier removed as the chairman of Tata Sons in October.
The company informed about the development in a release to Bombay Stock Exchange.
Reportedly, Ishaat Hussain is set to replace Mistry as interim chairman until a new chairman is appointed.
According to the media reports, TCS received a letter from Tata Sons in which it nominated Ishaat Hussain as the Chairman of the Board of Directors of India's biggest software services exporter.
"Mistry has ceased to be the Chairman of the Board of directors of the company, and Hussain is the new Chairman of the company. The company has been further informed that Hussain shall hold office as Chairman of the company until a new Chairman is appointed," the company said in a filing with the exchanges, reported Reuters.
Tata Sons owns 73.26 percent stake in Tata Consultancy Services.
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