{"id":28016,"date":"2016-10-25T10:13:26","date_gmt":"2016-10-25T10:13:26","guid":{"rendered":"http:\/\/greattelangaana.com\/english\/?p=28016"},"modified":"2016-10-25T13:56:35","modified_gmt":"2016-10-25T13:56:35","slug":"ratan-tata-says-taata-bye-bye-to-cyrus-mistry","status":"publish","type":"post","link":"https:\/\/greattelangaana.com\/english\/ratan-tata-says-taata-bye-bye-to-cyrus-mistry\/","title":{"rendered":"Ratan Tata says Taata bye bye to Cyrus Mistry"},"content":{"rendered":"<p style=\"text-align: justify;\">Ratan Tata has written to the employees of India&#8217;s largest conglomerate, informing them that &#8220;in the interest of the stability of and reassurance to the Tata Group,&#8221; he is returning as Chairman. (Scroll down to read the entire letter)<\/p>\n<p style=\"text-align: justify;\">Cyrus Mistry in a surprise move has been ousted as chairman and Tata, 78, will take over the position while the group seeks a permanent replacement. A committee has been given four months to find the new chairman.<\/p>\n<p style=\"text-align: justify;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-28017\" src=\"https:\/\/greattelangaana.com\/english\/wp-content\/uploads\/2016\/10\/Ratan-Tata-79th-Geneva-Motor-Show-jL35foK_3_jl.jpg\" alt=\"online news portal\" width=\"594\" height=\"387\" \/><\/p>\n<p style=\"text-align: justify;\">&#8220;Tata Sons today announced that its Board has replaced Mr. Cyrus P. Mistry as Chairman of Tata Sons. The decision was taken at a board meeting held here today,&#8221; the company said in a statement.<\/p>\n<p style=\"text-align: justify;\">Tata Sons is the holding company of the sprawling tea-to-steel Tata Group, which spans more than 100 companies in as many countries. Its empire ranges from Jaguar Land Rover and steel mills to aviation and salt.<\/p>\n<p style=\"text-align: justify;\">Mistry, 48, took over from the company patriarch in December 2012, becoming the first chief of the conglomerate from outside the Tata family. He had been attempting to shake up the $100 billion conglomerate by changing the management structure to bring in new faces at senior levels.<\/p>\n<p style=\"text-align: justify;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-28018\" src=\"https:\/\/greattelangaana.com\/english\/wp-content\/uploads\/2016\/10\/1472053744-8431.jpg\" alt=\"online news portal\" width=\"620\" height=\"464\" \/><\/p>\n<p style=\"text-align: justify;\">The Tata Group includes one of India&#8217;s largest IT firms, Tata Consultancy Services, and the biggest vehicle maker, Tata Motors. But the group&#8217;s revenue slipped 4.6 per cent for the financial year ended March to about $103 billion, hurt by global economic uncertainty, a crash in commodity prices and volatility in currencies, according to Bloomberg News. And it is currently trying to sell its loss-making British steel assets.<\/p>\n<p style=\"text-align: justify;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-28019\" src=\"https:\/\/greattelangaana.com\/english\/wp-content\/uploads\/2016\/10\/489706-tatagrouponline.jpg\" alt=\"online news portal\" width=\"700\" height=\"400\" \/><\/p>\n<p style=\"text-align: justify;\">Mistry had been battling problems on a number of fronts in recent months, including a costly settlement with Japanese telecoms operator NTT Docomo and the sale of Tata Steel&#8217;s loss-making business in Britain.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ratan Tata has written to the employees of India&#8217;s largest conglomerate, informing them that &#8220;in the interest of the stability of and reassurance to the Tata Group,&#8221; he is returning as Chairman. (Scroll down to read the entire letter) Cyrus Mistry in a surprise move has been ousted as chairman and Tata, 78, will take [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":28020,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,2],"tags":[11307,608,6087,11308,3629,11311,11306,11312,11309,11310],"class_list":["post-28016","post","type-post","status-publish","format-standard","has-post-thumbnail","category-nri","category-top-stories","tag-britain","tag-business","tag-chairman","tag-cyrus-mistry","tag-jaguar","tag-land-rover","tag-ratan-tata","tag-steel","tag-tata-sons","tag-tata-steel"],"jetpack_featured_media_url":"https:\/\/greattelangaana.com\/english\/wp-content\/uploads\/2016\/10\/TATA_MOTORS_SNM_11_1263757f.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/posts\/28016","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/comments?post=28016"}],"version-history":[{"count":0,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/posts\/28016\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/media\/28020"}],"wp:attachment":[{"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/media?parent=28016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/categories?post=28016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/tags?post=28016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}