Why would a newly appointed interim chairman of a conglomerate send a letter to the country’s prime minister informing him about the board meeting of its holding company and the decision on a sudden change of guard? In the normal course, no company usually considers it necessary to inform the prime minister of such decisions on either removing a chairman or the process to be followed in finding a successor. But this is exactly what Ratan Tata did soon after last Monday’s meeting of the board of Tata Sons that removed Cyrus Mistry as its chairman.
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First Published: Sun, October 30 2016. 21:21 IST