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Tata Group in Turmoil After Chairman’s ‘Bizarre’ Ousting

  • Ratan Tata returns as interim chairman to fill in for Mistry
  • Mistry had been pushing group to be more fiscally prudent
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Tata Turmoil: Chairman Cyrus Mistry Ousted

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Tata Group abruptly ousted its chairman of almost four years in a rare display of discord atop India’s biggest conglomerate, casting the specter of a leadership vacuum at the $100 billion coffee-to-steel business empire.

Chairman Cyrus Mistry, 48, was replaced by his 78-year-old predecessor at a board meeting on Monday, the group’s holding company said in a statement. Ratan Tata, a scion of the founding family, will serve as the interim chief and take part in the search for a more permanent successor, according to the statement from Tata Sons Ltd.