Home » business news » Ex-Tata exec reveals what happened on day Cyrus Mistry was fired

Ex-Tata exec reveals what happened on day Cyrus Mistry was fired

Speed News Desk | Updated on: 22 October 2017, 12:59 IST
Cyrus Mistry

The holding company of the Tata Group, Tata Sons Limited on 24th October 2016 announced the dramatic firing of Cyrus Mistry from the post of chairman.

Mistry texted his wife Rohiqa on October 24 that “I am being sacked”.

This new revelation is made by then group executive council member Nirmalya Kumar under Mistry on his blog on 21st October.

Nirmalya who was sacked on the same day as Mistry claimed that Tata group could have handle the matter in a better way.

Kumar said, "By eschewing the public humiliation of Mistry, the bloody aftermath that followed could have been avoided. Unfortunately, instead there was the subsequent public airing of the underbelly of the Tata Group as well as the deleterious impact on the reputations of Ratan Tata, Mistry and the Tata brand." Mistry's contract was due to expire on March 31, 2017.

“Instead of a sudden, no warning dismissal, the board could have just let the clock run out in five months,” he said.

In his blog he also said, “What made the firing of Mistry so unusual was that Tata Group had a history of only six chairman over 148 years!”

Tata Sons, earlier alleged that Mistry is guilty of breach of governance norms, and had also misled the group.

First published: 22 October 2017, 12:59 IST