BUSINESS

Cyrus Mistry Removed As Chairman Of Tata Steel

The decision was taken at a board meeting held in Mumbai on Friday,

25/11/2016 8:22 PM IST | Updated 25/11/2016 8:31 PM IST
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Danish Siddiqui / Reuters

Tata Steel has removed former head of Tata Sons Cyrus Mistry as chairman of its board in a board meeting held in Mumbai on Friday, the company said in a statement.

The board has also decided to convene an extraordinary general meeting (EGM) to remove Mistry and independent director Nusli Wadia as directors on the board of the company.

O P Bhatt, independent director on the board of Tata Steel and former head of State Bank of India, has been elected as chairman of the board until the outcome of the EGM, the statement said.

The EGM will be held on Dec. 21.

(Reporting by Promit Mukherjee; Editing by Mark Potter)

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