10 November 2016, India :
Tata Sons has nominated Ishaat Hussain as the interim chairman of software services company Tata Consultancy Services to replace Cyrus P. Mistry. Hussain will hold office as chairman until a new chairman has been put in place.
“The Company has received a letter dated November 09, 2016 from Tata Sons Limited nominating Mr. Ishaat Hussain as the Chairman of the Board of Directors of the Company in place of Mr. Cyrus P. Mistry with immediate effect. In view of this, Mr. Mistry has ceased to be the Chairman of the Board of Directors of the Company and Mr. Hussain is the new Chairman of the Company. The Company has been further informed that Mr. Hussain shall hold office as Chairman of the Company until a new Chairman is appointed in his place,” said the statement.
“Tata Sons Limited 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 Mr. Cyrus P. Mistry as Director of the Company,” it said. Source- Hindu Businessline / Image- Getty
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