A day after Cyrus Mistry’s dangerous letter that blamed Ratan Tata for section his part as chairman, Tata Sons issued an announcement communicating ” deep regret ” that the letter stamped secret to the group’s board members was made open in an “uncouth and undignified manner.
Tata Sons said the letter made unverified claims and vindictive charges, throwing slanders on the Tata group, the Tata Sons board and a few Tata organizations and some regarded people. These will be reacted to in a proper way
This is what Tata Sons had to say: Mr. Cyrus Mistry, the previous Chairman of Tata Sons, has been on the Board of the Company since 2006. He was named Deputy Chairman in November, 2011, and formally designated Chairman of Tata Sons on December 28, 2012. He would be completely acquainted with the way culture, ethos, administration structure, budgetary and operational goals of the Tata Group and also different gathering organizations.
As the Executive Chairman, he was completely engaged to lead the group and its organizations. Tragically that it is just on his evacuation that assertions and distortion of actualities are being settled on about business choices that the previous Chairman was gathering to for over 10 years in various limits. The record, as and when made open, will demonstrate things despite what might be expected.