All this is an afterthought bullshit. Tatas, after luring Mistry to take up chairmanship promising full autonomy, reportedly wontonly changed the Articles of Assn within a few months of his taking over. It looks like it was a calculated aim to keep him chairman with legs tied and hands chopped off. It can quite well be that Cyrus who has been a part of the board for long did not want to rock the boat by precipitating the issues. He was manly trying to stem the rot and has succeeded partially. As Ratan is quite old Also Cyrus may have hoped that Ratan will slowly fade and in the long term he can do good
THERE ARE 2 BEST PERSONS FIT FOR THE POST OF CHAIRMAN - TATA GROUP. 1)CYRUS BROACHA. LONG AGO HE STARTED ON TV MTV BAKRA. SO HE WONT BE A BAKRA ANY MORE. 2)BABA RAMDEO. BUT HE SHOULD GET CONVERTED TO PARSI & HAVE SURNAME TATA, INORDER TO COMPLETE FULL TERM.HIS DRESS CODE SHOULD NOT CHANGE, SO HE WONT NEED A AC CABIN & WILL HAVE LOT OF COST SAVING. HE WILL BE CALLED BABA RAM DEO TATA (BRD TATA).
Tata group companies in particular the flag ships save a couple did better during Mr. Cyrus Mistry's term than during Mr. Ratan Tata's with respect to all the important parameters viz. revenue, net profit, assets - liabilities, stock value.
The performance of Mr. Cyrus Mistry can be justifiably termed exceptional and anything but sub-par. Therefore Tata board by attempting to pin the label of under-performer are risking looking RIDICULOUS!
Tatas should decentralize Chairman's job and appoint Chairman at individual company level, all of them reporting to the Mr. Ratan Tata ! Tatas have grown so much that it is just not possible for one man to handle the job ! All these Chairmen should have vast experience in reviving such companies. That should be the only criteria. No need to be a Parsi man only !
This article seems to be a cruel joke on Cyrus Mistry.
1. Automotives - Right from the 1990s, the Tatas could make no headway at all. And the Nano was a success ??!! It was only hype and an unmitigated disaster.
2. Telecom - Tata was jinxed with its foray into the defunct CDMA space. And by the time Docomo came in, Tata was a big laggard not knowing whether it was coming or going in this business.
3. European Steel - the unwarranted acquisition of Corus by Tata at an unwarranted price was criticised by so many Businessmen/ Analysts at that time itself. And then Mistry get a second whammy in the form of a global decline in demand and prices.
4. Budget hotels - Across whatever segments of the hospitality industry that Tata is present in, they have had more problematic/ loss making properties than profitable ones.
So, 4 of the 5 Businesses mentioned are Ratan Tata's unwanted legacies to Mistry. And what Tata could not do over 1 - 2 decades, he wanted Mistry to do in 4 years flat !! Does the Writer of this article want us to believe that ?
The more stories, charges and counter-charges coming out from all sides, one thing is very clear - the Tata name has taken a HUGE hit, probably forever.
This article seems to be a cruel joke on Cyrus Mistry.
1. Automotives - Right from the 1990s, the Tatas could make no headway at all. And the Nano was a success ??!! It was only hype and an unmitigated disaster.
2. Telecom - Tata was jinxed with its foray into the defunct CDMA space. And by the time Docomo came in, Tata was a big laggard not knowing whether it was coming or going in this business.
3. European Steel - the unwarranted acquisition of Corus by Tata at an unwarranted price was criticised by so many Businessmen/ Analysts at that time itself. And then Mistry get a second whammy in the form of a global decline in demand and prices.
4. Budget hotels - Across whatever segments of the hospitality industry that Tata is present in, they have had more problematic/ loss making properties than profitable ones.
So, 4 of the 5 Businesses mentioned are Ratan Tata's unwanted legacies to Mistry. And what Tata could not do over 1 - 2 decades, he wanted Mistry to do in 4 years flat !! Does the Writer of this article want us to believe that ?
The more stories, charges and counter-charges coming out from all sides, one thing is very clear - the Tata name has taken a HUGE hit, probably forever.
Re: Ha ha ha
by ANIL KUMAR on Oct 28, 2016 03:50 AM
I completely agree with above comment, I consider this article has just been written to fool readers and defend board member\'s foolish decision. I was big fan of Mr Ratan Tata. I Really respected him. But after his this act all I can say is he is just a normal businessman. Neither Tata\'s and neither Mr Mistry are my friends, but as a general unbiased person I can say that decision of removing Mr Mistry is absolutely wrong and brings bad name to TATAs legacy.
Most of the International acquisitions except for JLR,Tetley during Ratan Tata's time were loss making ventures.
Their steel business in UK has been consistently posting huge losses during Ratan Tata's time. The global situation during Cyrus's time only became more challenging not to mention Brexit. He is supposed to turn this around in a couple of years?
Tata motors and Tata communication ventures were losing money during Ratan Tata's time. Cyrus has brought these losses down. The JV headache with NTT docomo is something Cyrus inherited from Ratan Tata.
When it comes to GOI contracts you can't beat Reliance. Did Tata group lose to any Non-Reliance competitor or lose non-GOI contracts to Reliance during Cyrus's time?
Tata group was losing money in the hospitality industry as well before Cyrus. He put them on path to profitability and posted a profit and did not at least lose money.
Cyrus stopped losses and put several Tata group ventures including Tata Motors, Tata communications, hotels on the path to profitability within a couple of years and their full effect will only be felt over time.
Yes there was a lot of hype around Nano but to call it a success is warped. Cyrus Mistry inherited flawed concepts and ventures like Nano from his predecessor but still within a short time has corrected the prior mistakes and put the group slowly but steadily on path to glory.
Even if what Tata trusts or Ratan Tata are saying is true does it justify the way of firing?
