Cyrus Mistry removed as chairman of Tata Sons

Cyrus Mistry has decided to move the Bombay High Court, a day after the Tata Sons decided to remove him as its chairman in a surprise move. The board has appointed Ratan Tata, who Mistry had replaced in 2012, to take over the reins of $100 billion salt-to-software conglomerate. A five-member committee has been named to choose a successor to Mistry within four months. Mistry is the first from outside the Tata family to hold the chairman post, and his family firm Shapoorji Pallonji Group has 18.4 per cent in Tata Sons. Reasons for a change in leadership is unclear, with many media houses claiming Tata Sons was unhappy with Mistry’s business approach.