Ending an eight week-long bitter battle in the Tata Sons’ boardroom, ousted Tata Group chairman Cyrus P Mistry on Monday quit from the boards of six listed companies, including Tata Motors and Indian Hotels. However, Mistry said he is shifting gears and moving away from the extraordinary general meetings (EGMs) to a larger platform.
In a two-page statement issued by Mistry himself, he said, “Having deeply reflected on where we are in this movement for cleaning up governance and regaining lost ethical ground, I think it is time to shift gears, up the momentum, and be more incisive in securing the best interests of the Tata Group.”