BUSINESS

Tata Sons Nominates Ishaat Hussain As Interim Chairman Of TCS To Replace Cyrus Mistry

Mistry was ousted as chairman of Tata Sons last month by Tata Sons board

10/11/2016 8:40 AM IST | Updated 10/11/2016 12:08 PM IST
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Vikram Kaushik, MD and CEO of Tata Sky with Ishaat Hussain, Chairman, at the launch of DTH satellite television service in New Delhi, India

Tata Sons has nominated Ishaat Hussain as the interim chairman of software services company Tata Consultancy Services to replace Cyrus P. Mistry

Hussain will hold office as chairman until a new chairman has been put in place.

According to a regulatory filing, Tata Sons has also called for an extraordinary general meeting of shareholders of the company to remove Mistry as director of TCS.

Hussain is also the chairman of Voltas and Tata Sky, according to the Tata group's website. He also serves as a director of several Tata companies, including Tata Industries, Tata Steel and Voltas.

Prior to joining Tata Sons, Hussain was senior vice president and executive director of finance at Tata Steel for nearly 10 years.

Last month, Mistry was ousted as chairman of Tata Sons in a surprise move, and was replaced by Ratan Tata as interim chair. A similar move to unseat Mistry from TCS, the crown jewel in the Tata conglomerate portfolio, was anticipated given the bitter war of words that has erupted between the two sides following Mistry's ouster.

With Tata Sons controlling an over 70 percent stake in TCS, lawyers had noted that removing Mistry as chair of the software and services company, would be a much easier task than removing his as chair of many other ventures that Tata Sons do not own a majority stake within.

With Reuters inputs

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