After the Supreme Court’s decision on the long-standing feud with Tata Sons, former Tata Sons chairman Cyrus Mistry spoke openly. Mistry said in a statement that he was “personally disappointed” with the outcome of the verdict. Notably, after four years at the helm, Cyrus Mistry This was turned into a boardroom coup in October 2016, in which Ratan Tata took over the group before N Chandrasekhar was reinstated.
Cyrus Mistry said in a statement titled “Grateful for the opportunity – my conscience is clear” that he hopes the issues raised will lead to deeper reflection, influencing individuals concerned to catalyze change, “I am a I sleep with a clear conscience.”
Mistry said in a March 30, 2021 statement, “Over the past four years, I have had the opportunity to reflect on my actions and whether I could have handled the generational change in leadership better. I have no doubts or there is erosion of conviction about the direction I have chosen, the integrity behind my actions, and their consequences.”
He said, although personally as a minority shareholder in the group, he is disappointed with the outcome of the case, he is grateful for the opportunity to delist the Tata group as chairman. Thanking his team members “who were all tied together by the common value system underlying the founders” Bye Group,” he said, adding that he would always be grateful for the fact that he got the opportunity to serve as the chairman of the prestigious institution.
He said his effort from day one was to ensure that the group, which was undergoing a generational change in leadership, had “a robust board-run system of decision-making and governance that is larger than any one individual.” … to enable directors on various boards to “discharge their fiduciary duties without fear or favour, while still ensuring that shareholder views are reflected in strategy and actions.”
I believe such a model will protect value for all stakeholders in Tata Sons and its various group companies, he added. Recognizing that he will no longer be able to directly influence the direction of governance of the group (having resigned from the board while the matter is pending), I hope that the issues I have raised will cause deep reflection and To motivate the concerned persons. Change.
(with inputs from PTI)
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