While the world was shocked with the Board of Directors’ discourteous removal of Cyrus Mistry as Chairman of Tata Sons, Mistry himself was equally shaken. In a letter to the Directors of Tata Sons Ltd he expressed his shock and disappointment.
“I was shocked beyond words at the happenings at the board meeting of October 24, 2016. Apart from the invalidity and the illegality of the business that was conducted, I have to say as the board of directors has not covered itself with glory. To ‘”replace” your Chairman without so much as a word of explanation and without affording him an opportunity of defending himself in a summary manner must be unique in the annals of corporate history,” wrote Mistry. “I cannot believe that I was removed on grounds of non performance,” he has stated in the letter.
“I hope you do realize the predicament that I found myself in. Being pushed into the position of a “lame duck” chairman my desire was to create an institutional framework for effective future governance of the group. I believe I had to be true to myself and the best interests of the organization. While I would be lying if I said I am not disappointed, I have a sense of pride and dignity intact in the efforts I have taken to professionalize and institutionalize regardless of the outcome of effort, I now witness,” Mistry concluded.