The board of directors of Tata Sons today conferred the title of Chairman Emeritus to Ratan Tata, who retires on December 28. The board also announced the appointment of Cyrus P Mistry as the Chairman of the Board.
Mistry who has been serving on the board of Tata Sons since 2006 was in November 2011 appointed successor to Tata, who has been chairman since 1991.
Over the last few months Mistry has been inducted into the board of several of the Tata companies. Last month he was appointed on to the board of the Indian Hotels Company as Tata stepped down from the board of Tata Global Beverages. Mistry has also been appointed as board member to companies such as Tata Motors, Tata Steel, Tata Consultancy Services (TCS) and others.
In a recent interview Tata said, "I don't think it is right to have a ghost to shadow over somebody. You should be your own person, you should take your own call and you should decide what you want to do.” Mistry has been working closely with Tata to prepare for the transition.
