Tata Sons on October 24, 2016 removed Cyrus Mistry as its Chairman, nearly 4 years after he took over the reins of the group. Tata Sons is the holding company of 'the $103-billion (around Rs 6.88 lakh crore) Tata group. The group named Ratan Tata, chairman of Tata Trusts, the largest shareholder in Tata Sons, interim chairman for four months. The youngest son of construction magnate Pallonji Mistry, Cyrus Mistry took over as the chairman of Tata Sons in 2012, replacing Tata, who stepped down after 21 years at the helm. Mistry was the first chairman of the $67-billion conglomerate who was not related to the Tata family.
Tata Trusts, chaired by Ratan Tata, owns 66% stake in Tata Sons, while the Mistry family owns 18.5% stake. The rest of the shares are owned by Tata group companies and private investors.
Tata Trusts, chaired by Ratan Tata, owns 66% stake in Tata Sons, while the Mistry family owns 18.5% stake. The rest of the shares are owned by Tata group companies and private investors.
