Companies

Cyrus Mistry might appoint nominee directors: Report

Our Bureau Mumbai | Updated on December 26, 2019 Published on December 26, 2019

Cyrus Mistry. File photo   -  KSL

Tata Sons’ ousted chairman Cyrus Mistry is likely to appoint nominee directors on Tata Group companies’ board to ensure best practices of corporate governance, according to report Business Standard newspaper.

Earlier sources told BusinessLine that Cyrus Mistry, who won the battle against Tata Group, might not stake a claim to the top position.

READ THE STORY: Cyrus Mistry unlikely to stake a claim to Tata Sons’ chairman’s post

Mistry wanted to keep an effective oversight without being the part of operations at the Tata group. Mistry has only five months left of his tenure as chairman and that’s one of the reasons why he is not keen, the newspaper said, quoting sources.

In its December 18 ruling, the National Company Law Appellate Tribunal (NCLAT) reinstated Cyrus Mistry as chairman of Tata Sons and three other group companies last week.

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Published on December 26, 2019
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