Cyrus Mistry to become Tata Motors Chairman from Dec 28

Tata Motors today said it has appointed Cyrus P Mistry as its Chairman with effect from December 28 after retirement of group chief Ratan N Tata.

"The Board of Directors of Tata Motors today announced the appointment of Cyrus P Mistry as the Chairman of the Board with effect from December 28, 2012, on the retirement of Ratan N Tata," the company said in a statement.

The board also conferred on Tata the honorary title of Chairman Emeritus, it added.

Earlier, Mistry was inducted into the company's board as the Deputy Chairman.

Mistry has been a director of Tata Sons since 2006 and was appointed Deputy Chairman last November.

Last month, Tata had stepped down as Chairman of Tata Global Beverages, making way for successor Mistry, who was inducted into the board of Indian Hotels Company.

Mistry was also appointed as the Deputy Chairman of Tata Steel and Tata Chemicals. Tata Consultancy Services had also inducted him as Deputy Chairman.

Shares of Tata Motors today closed trading 3.96 per cent up at Rs 287.40 apiece on the BSE.