Tata Sons has appointed Ishaat Hussain as the Chairman of the group's hugely successful IT firm TCS in place of Cyrus Mistry, who was ousted last month.
"The company (TCS) has received a letter dated November 9, 2016 from Tata Sons Ltd nominating Ishaat Hussain as the Chairman of the Board of Directors of the company in place of Cyrus P Mistry with immediate effect. In view of this, Mistry has ceased to be the Chairman of the Board of Directors of the Company and Hussain is the new Chairman of the company," TCS said in a regulatory filing.
TCS said Hussain shall hold office as the Chairman of the company until a new Chairman is appointed in his place.
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"Tata Sons has issued a special notice under Section 169 read with Section 115 of the Companies Act, 2013 and a requisition for convening an extraordinary general meeting of shareholders of the company under Section 100(2) of the Companies Act, 2013 to consider a resolution for the removal of Cyrus P Mistry as Director of the Company," it added.
While Mercantile Bank operates within South Africa, it has
reach into other key African markets through its parent company and its subsidiaries in Angola and Mozambique. There is an ongoing focus on capturing trade flows between these fast growing African economies.
About TCS Financial Solutions
TCS Financial Solutions is a strategic business unit of Tata Consultancy Services. Dedicated to providing business application solutions to financial institutions globally, TCS Financial Solutions has compiled a comprehensive product portfolio under the brand name of TCS BalphaNCS. Our mission is to provide best of breed solutions that drive growth, reduce costs, mitigate risk and offer a faster speed to market for our clients. With a global customer base of more than 370 institutions operating in over 80 countries, TCS Financial Solutions delivers state-of-the-art software solutions for the banking, insurance and capital markets industries worldwide. For more information, visit us at www.Tcs.Com/bancs [http://www.Tcs.Com/bancs ]
About Tata Consultancy Services Ltd (TCS) Tata Consultancy Services is an IT services [http://www.Tcs.Com/offerings/it-services/Pages/default.Aspx ], consulting
[http://www.Tcs.Com/offerings/consulting/Pages/default.Aspx ] and business solutions organization that delivers real results to global businesses, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT
[http://www.Tcs.Com/offerings/it-services/Pages/default.Aspx ], BPS
[http://www.Tcs.Com/offerings/business_process_outsourcing_BPO/ Pages/default.Aspx ],
Infrastructure
[http://www.Tcs.Com/offerings/it_infrastructure/Pages/default.A spx ], engineering
[http://www.Tcs.Com/offerings/engineering_services/Pages/defaul t.Aspx ] and assurance services
[http://www.Tcs.Com/offerings/assurance_services/Pages/default. aspx ]. This is delivered through
its unique Global Network Delivery Model [http://www.Tcs.Com/about/tcs_difference/global_delivery/Pages/ default.Aspx ](TM), recognized as the benchmark of excellence in software development. A part of the Tata group, India's largest industrial conglomerate, TCS has over 387,000 of the world's best-trained consultants in 45 countries. The company generated consolidated revenues of US $17.6 billion for year ended March 31, 2017 and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. For more information, visit us at www.Tcs.Com [http://www.Tcs.Com ]
Media Contact:
Harsha Ramachandra,
Corporate Communications
Tata Consultancy Services
H.Ramachandra@tcs.Com
+91-22-67789078
Source: Tata Consultancy Services Limited.
