MUMBAI : Tata Sons says Cyrus Mistry misled the selection committee set up in 2011 for selecting a chairman to succeed Ratan Tata.
Mistry made lofty statements about plans for Tata Group, but didn’t give into effect management structures and plans he promised said Tata Sons.
Mistry did not distanced himself from his family enterprise Shapoorji Pallonji & Co as promised, says Tata Sons.
Mistry’s retraction from commitments created grave concern on his ability to lead Tata Group devoid of personal conflicts and put to risk high standards of self philosophy says Tata Sons
Dividend income (other than from TCS) declined continuously and staff costs more than doubled during Mistry’s tenure said Tata Sons.
Mistry gradually concentrated all powers and authority, systematically diluting representation of Tata Sons on Boards of group companies. (agencies)
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