The shockwaves over Tata Group’s decision to oust its chairman Cyrus Mistry were felt strongly here with the British media on Tuesday speculating that it may be “good news” for the company’s UK operations due to interim chairman Ratan Tata’s affinity towards the business.
Media reports, almost overwhelmingly, expressed concerns over the future of thousands of steelworkers employed by Tata Steel at its plants in the UK.
In fact, one report stressed that the decisiveness over Mistry’s removal should have been reflected in the Tata Group’s plans for its UK steel units, which it had announced it would be shedding in March this year.
“If only Tata had acted as decisively with its UK steel business as it has with axing Mistry. The Indian company announced it was reviewing the future of its UK business in March, but this remains unresolved,” noted the ‘Guardian’ in an article titled ‘Why the removal of the Tata boss matters to the UK economy’.