VS
THE TATA MISTRY BATTLE
A closer look at the boardroom battle at one of India's largest conglomerates
IiAS has recommended shareholders to vote FOR the proposal to remove Cyrus Mistry. Our decision focuses on an outcome that enables Tata companies to operate with minimum disruption – by maintaining the existing chain of command between Tata Sons and the operating company. Further, IiAS believes Cyrus Mistry’s position as a director of the operating companies was a consequence of his position as Chairperson of Tata Sons. With his removal as Chairperson of Tata Sons, his continuing on these boards as a non-independent director becomes untenable.
Our recommendation is not an endorsement of Cyrus Mistry’s removal from the Chairpersonship of Tata Sons. But, Cyrus Mistry’s currently remaining on the board, is likely to lead to unnecessary friction between the operating companies and Tata Sons, the largest shareholder. Therefore, our intent is to provide a clean slate and an occasion to overhaul the structural issues, which may have been present all along, but have surfaced with this sacking. It is imperative that the Tata group use the opportunity being provided to fix the control and governance structure – going back to the status quo is not an option, and investors do not want to see a re-run. We have discussed these in some detail in the related research referred here.
WHO WILL WIN?
If the dashboard is not visible, please click here.
PRESS RELEASES
06 Dec 2016
04 Dec 2016
12 Nov 2016
09 Nov 2016
03 Nov 2016
26 Oct 2016
â—„
1 / 1
â–º
MISTRY
13 Dec 2016
12 Dec 2016
06 Dec 2016
05 Dec 2016
04 Dec 2016
22 Nov 2016
â—„
1 / 1
â–º
TATA
WRITE TO IIAS
Got a message for us? Require more clarifications? Have a different view?
Please feel free to write to us.
Disclaimer: The Tata group, through Tata Investment Corporation Limited, holds equity in IiAS. The contents of this page are based entirely on publicly available information, but we do not represent that it is accurate or complete and it should not be relied on as such. IiAS shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this page. This page is provided for assistance only and is not intended to be and must not be taken as the basis for any voting or investment decision. The reader assumes the entire risk of any use made of this information. This information is subject to change without any prior notice. IiAS reserves the right to make modifications and alterations to this page as may be required from time to time. However, IiAS is under no obligation to update or keep the information current.