By Ravikiran Joshi
[In Review Of]
Why was Cyrus Mistry sacked? Top possible reasons for his exit | Business Standard News
via Why was Cyrus Mistry sacked? Top possible reasons for his exit | Business Standard News by www.business-standard.com
Start writing below…
Well, today seems to be the day Bombay (not Mumbai !) shook. Tata Sons for all the weight it carried, has shrugged sacking its chairman Cyrus Mistry. For India that dreams of many such $100B enterprises this is surely a cross check movement.
Here, reviewing the article cited, I cross check the probables of this event and perhaps attempt to add a few to it. Whatever they be, in the end its just that Cyrus forgot to have a second opinion always.
Sources also said that Mistry’s departure was deliberated over months and was a result of a difference of opinion between him and the board, without elaborating on the differences.
As it happens, people leave the Boss -unfit. But considering the decisions that have already been made, the time of 4-1/2yrs he spent and if not least the personal grooming he’s got over, this type of sacking (a shock from an institution) could hardly been more worse.
The source also said that Tata was disbanding the group executive council (GEC) – a team of core advisers that Mistry had formed.
Pooling seniors into a council or stressing the conventional workforce ( the pvt eqvt of a PSU) could be the compiler but this actually should be ok for a nation seeking high growth amidst bringing down the avg age of force and talent execution.
Perhaps, much might be under carpet since Brexit, for Corus sale and JLR. Both make up jewels of TATA- now being extradited by their respective natives. Extradited – coz they were brought under circumstances and now that things are better, politics making way back for them.
The debt reduction may be the only fraction of the big mountain of claims now piling against him.