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Business & Finance

India's Tata Steel removes Cyrus Mistry as chairman

Published November 25, 2016 Updated November 25, 2016 01:57pm
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By Shoaib Ur Rehman
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imageMUMBAI: India's 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.

Copyright Reuters, 2016

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