Cyrus Mistry is not giving up chairmanship of all group companies; chairs Tata Beverages board meet

Cyrus Mistry may have been fired as Tata Sons Chairman but he is in no mood to give up the chairmanship of other group of companies.

This was indicated after Mistry chaired a regular board meeting of Tata Global Beverages (TGBL) at Bombay House.

As per reports, Mistry held regular discussions in the four-hour long meeting and took stock of company’s operations and progress.

It remains to see for how long Mistry will continue as the Chairman of other groups such as TCS, Tata Steel, Tata Motors, Tata Chemicals and Tata Global Beverages.

If he doesn’t resign on his own, it might become difficult for these companies to terminate him as it is a long and cumbersome procedure.

Dismissing a chairman of a listed company is a difficult process and requires a vote by shareholders.