Three top executives of the Tata Group have resigned days after former Tata Sons Chairman Cyrus Mistry was replaced by Ratan Tata as interim chairman in a sudden move.
These include Dr Nirmalya Kumar, Madhu Kannan and Dr NS Rajan, all of whom are members of the Group Executive Committee (GEC).
A Tata spokesperson confirmed the resignations.The GEC, formed by Mr Mistry soon after taking over in 2012, was disbanded the day he was removed.
The other two members of the GEC, Tata Group Brand Custodian Dr Mukund Rajan and Tata group veteran Harish Bhat will be assigned new roles in the group. Mr Bhat was inducted into the GEC in 2014.Dr Rajan was earlier with Tata Teleservices.
London Business school professor and strategist Dr Nirmalys Kumar was inducted into the GEC in 2013. He was responsible for strategy for the group.Mr Kannan, who previously worked with the Bombay Stock Exchange (BSE) was handling Business Development and Public Affairs in the GEC for the group.
GEC member Mr Rajan was the Chief Human Resources Officer of the Tata group and he had joined in mid 2013. Prior to that he was partner and global leader (people & organizations) at consulting firm Ernst & Young.
All these people were brought in from outside to help Mr Mistry achieve his vision.
Prior to the formation of the GEC, Tata Group’s affairs were handed by the Group Corporate Centre (GCC) which was set up by Mr Ratan Tata in 2000. The members of the GCC included Tata Group veterans NA Soonawala, JJ Irani and RK Krishna Kumar.
The GEC was set up by Mr Mistry to provide strategies and operational support to the Chairman in meeting his targets.