 "In this file photo of Ratan Tata with Cyrus Mistry. Tata Sons on Monday removed Cyrus Mistry as its Chairman, nearly 4 years after he took over the reins of the group. Tata makes a comeback, taking over as the company's interim boss for 4 months.")
Tata veteran and former managing director of Tata Power, Prasad Menon, who last served as chairman of Air Vistara, an airline venture with Singapore Airlines, has been brought in to help Tata put the new management structure in place for Interim Chairman Ratan Tata.
Citing sources familiar with the matter, the Economic Times reported that Menon has been brought in by Tata under a newly created chairman’s office, which will handle the operations of the group till a new chairman is appointed.
Ratan Tata would be outlining the restructured top management of the $100 billion group in the coming days, a media report had said on Tuesday while citing a person close to the company.
The Tata group has also asked S Padmanabhan to handle the human resources after Mistry appointee NS Rajan quit from the position last week. The ET report added that Padmanabhan has been serving as the executive chairman of Tata Quality Management Services.
The restructuring comes following the ouster of former chairman Cyrus Mistry and the disbanding of his advisory Group Executive Council (GEC).
Two members of Mistry's GEC remain in new management
The Reuters report had said, citing sources, that out of Mistry's advisory team, which included five people in key roles such as group heads of business development, strategy and public affairs, Tata's brand custodian Mukund Rajan and Harish Bhat, who oversaw Tata's retail ventures, were likely to be part of the new management structure.
Rajan, it has been learned, has been asked by the group to oversee its international operations. According to ET, Rajan will still operate in his capacity as chief sustainability and group ethics officer, but he will now also be handling overseas offices across UK, US, China, Middle East & North Africa, Singapore and the Asean region.
The report added that Bhat would take over as the custodian of the Tata brand and lead business development for the group.
S Ramadorai to become new chairman?
On Tuesday, CNBC-TV18 reported that former Tata Consultancy Services vice-chairman S Ramadorai resigned as the chief of National Skill Development Corporation and National Skill Development Agency amid speculation of his return to Tata. Ramadorai is also chair of AirAsia India, another airline joint-venture Tata has with Malaysia's AirAsia Bhd.
There has been some speculation over Ramadorai being appointed as the new chairman of Tata Sons.
Independednt directors concerned by Mistry's ouster
Meanwhile, CNBCTV18 reported that independent directors of Tata Sons are likely to meet ahead of the November 14 scheduled meeting to discuss the manner in which Cyrus Mistry was ousted. According to the report, the directors held that Mistry was an excellent chairman who always consulted the board while making decisions.
Independednt directors concerned by Mistry's ouster
Meanwhile, CNBCTV18 reported that independent directors of Tata Sons are likely to meet ahead of the November 14 scheduled meeting to discuss the manner in which Cyrus Mistry was ousted. According to the report, the directors held that Mistry was an excellent chairman who always consulted the board while making decisions.
