 |
| Ratan Tata has returned as chairman of Tata Sons |
Ratan Tata has been named as interim chairman and a selection committee has been set up to find a permanent replacement. Mr Mistry has led the company since late December 2012.
He was the first chairman to be appointed from outside the family. No details were given by the company as to why the board had decided to make the change.
Mr Mistry was only the sixth chairman of the group, which is nearly 150 years old. Ratan Tata was the previous chairman and was in charge of the company for more than two decades until he stepped down in 2012 at the age of 75.
Mr Mistry was appointed more than a year before Mr Tata retired. The members of the selection committee charged with finding the permanent replacement are Ratan Tata, Venu Srinivasan, Amit Chandra, Ronen Sen and Lord Kumar Bhattacharyya.
The committee will complete the selection process in four months. Tata Sons owns Jaguar Land Rover, as well as Tetley Tea.
It is one of India's oldest conglomerates and is made up of more than 100 companies, including Tata Steel, Tata Motors, Tata Power and the IT giant, Tata Consultancy Services.