22 October, 2020

Loose Screws In The Tata Wheels

Behind Cyrus Mistry’s booting out was his doggedly independent action, and Ratan Tata’s intolerance of it

Main Man
Ratan Tata with Cyrus Mistry, who was removed as Tata Sons chairman
Photograph by PTI
Loose Screws In The Tata Wheels
outlookindia.com
2016-11-05T12:02:17+05:30

It is a corporate implosion that is being watched with keenness by mar­kets and authorities in India and overseas, for it involves one of India’s biggest business houses. Central to the tussle are issues related to the Tata Group’s corporate integrity, its strategies, governance practices and how professionals are treated.

Various business, political and analyst circles are abuzz with questions about whether the Tata Sons board’s action in unceremoniously removing its chairman Cyrus Mystry followed the best business practices. If anything, it has created a clear divide in the corporate sector. One section feels the Tata Group was right in removing a chairman who was not working in its best interests. The other, much bigger, group feels that Mistry has been wronged, as he was doing all it needed for the group’s profitability and growth.

Says former IIM-A profes­sor and business historian Dwijendra Tripathi, “Obviously, best corporate practices were not followed. Cyrus Mistry should have been given a chance to explain. He...

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