MUMBAI (Nov 4): Tata Sons has put in place a new management team for the US$100 billion steel-to-software group, days after its board ousted Chairman Cyrus Mistry and disbanded his advisory council, triggering a public spat between him and Ratan Tata. Ratan Tata, patriarch of the Tata group who is temporarily back at the helm as interim chairman, has put together a team of five executives, including two former Mistry advisers, Tata Sons said in a statement on Friday. The remaining three Mistry advisers — Nirmalya Kumar, NS Rajan and Madhu Kannan — have left the company, Tata Sons said. While Mistry has been removed as chairman of Tata Sons, he is still chairman of some of the key listed group companies such as Indian Hotels Co, Tata Motors, Tata Communications and Tata Steel. Removing him as chairman from some of the companies, where Tata Sons is not a majority shareholder, might prove harder.

Source: The Edge Markets November 04, 2016 16:15 UTC