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Monday, 24 October 2016

Tata Group announces surprise departure of chairman Cyrus Mistry | Business | The Guardian

Tata Group announces surprise departure of chairman Cyrus Mistry | Business | The Guardian:

"Tata Group, the Indian conglomerate that owns significant British industrial interests through Jaguar Land Rover and Tata Steel, has turned back to its founding family for leadership after removing its chairman.

Cyrus Mistry will be replaced by his predecessor, Ratan Tata, who will serve as interim chairman while the conglomerate looks for a permanent replacement.

The 148-year-old company gave no reason for the surprise departure of Mistry after four years in charge. Tata, whose other UK businesses include Tetley Tea, said its board made the decision on Monday and that a committee would aim to find a new chairman within four months."



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