Cyrus Mistry removed as Tata Sons chairman, Ratan Tata retur

In a dramatic development that took the corporates and others by surprise,Cyrus Mistry was on Monday sacked as chairman of Tata Sons. He was replaced byRatan Tata, who will be the interim chairman for four months.

The announcement came after the board of Tata Sons met here and decided to replace 48-year-old Mistry, who had taken over from Ratan Tata in 2011.

The board named a five-member search committee, which includes Tata, to choose a successor to Mistry within four months.