1. Tata Sons replaces Cyrus Mistry with Ratan Tata; check out the shocked initial Twitter reactions

Tata Sons replaces Cyrus Mistry with Ratan Tata; check out the shocked initial Twitter reactions

The reason is not clear, but the impact on the group as well as the wider business world and the stocks of the various companies is likely to be volatile.

By: | New Delhi | Published: October 24, 2016 7:05 PM
Cyrus Mistry, Cyrus mistry appointment, Cyrus Mistry resigns, Ratan Tata, Ratan Tata chairman of the group, Cyrus Mistry replaced, Cyrus Mistry news, Cyrus Mistry tata group, Tata, Tata Group, Tata Group Chairman, Shapoorji Pallonji, Tata sons, Tata Elxsi The reason is not clear, but the impact on the group as well as the wider business world and the stocks of the various companies is likely to be volatile. (Source: PTI)

In a shocking move Cyrus Mistry has resigned as Chairman and he has been replaced by none other than veteran Ratan Tata as interim chairman. In fact, Mistry’s removal has been as surprising and spectacular as was his initial appointment to lead the behemoth Tata group, which is not really known for taking steps that shock. The reason is not clear, but the impact on the group as well as the wider business world and the stocks of the various companies is likely to be volatile. Exactly what the group hopes to gain by bringing back Ratan Tata is unclear, even though he has been part and parcel of the group’s activities all through the years since he handed the reigns over to Cyrus Mistry. Mistry was the first non-Tata man to head the Tata group, but Ratan had put his backing behind the move and even till recently there were no indications that there would be changes effected at the top. A new committee to find a replacement for Mistry has been appointed and it will do so within a 4-mth period.

Shibaji Panja [email protected] 9m9 minutes ago Kolkata, India
#CyrusMistry out , @RNTata2000 in …. ????????????????
Sayantan Sinha [email protected] 10m10 minutes ago

#CyrusMistry resigns
Mihir Pandya [email protected] 11m11 minutes ago

@RNTata2000 to be the Interim Chairperson at #TataSons, replaces #CyrusMistry!! What Next? Whoa Now Why this Step All of Sudden?
0 replies 0 retweets 0 likes
Abhishek Bajpaee [email protected] 11m11 minutes ago

Unclear who’s gonna be sacked frm #SamajwadiParty but there’s sacking in Tata group #cyrusmistry sacked as expected keeping revenues in mind
0 replies 0 retweets 0 likes
Sitaraman Shankar [email protected] 12m12 minutes ago

#CyrusMistry reign at the top of the Tata group lasted less than four years. Dramatic stuff, this

An_Idealist [email protected]_Idealist 13m13 minutes ago

#CyrusMistry quits!! What’s happening at #Tata

It has not been made clear whether Ratan Tata would be replaced after that or he himself will become one of the candidates in the fray. Ratan Tata comeback at Tata Group is like that of NR Narayana Murthy who came back to take charge at Infosys to turn it around after years of disappointing performances. He then appointed Vishal Sikka to run the company after an interregnum – Sikka is the first non-Infosys founders to run the company. Here are the shocked Twitter response to the sacking of Cyrus Mistry today:

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