Twitter

Facebook

Youtube

Pintrest

RSS

Hindi News | Samay | UP/Uttarakhand | MP/Chhattisgarh | Bihar/Jharkhand | Rajasthan | Aalami Samay
Ratan Tata steps down as Chairman of Tata Global Beverages
Last Updated : 20 Nov 2012 09:51:55 PM IST
Ratan Tata
File photo of Tata group chief Ratan Tata.
 

Tata group chief Ratan Tata on Tuesday stepped down as Chairman of Tata Global Beverages with immediate effect, making way for successor Cyrus Mistry, who as also been inducted into the board of Indian Hotels Company.


In two separate filings to the BSE, the two firms said the respective meetings of the Board of Directors decided the changes as per Tata's retirement plans in December 2012.
 

"Effective November 20, 2012, Ratan N Tata has stepped down as Chairman of Tata Global Beverages Ltd and Cyrus P Mistry has been appointed Chairman," the company said.

Tata, however, will continue as one of the directors on the Board of Tata Global Beverages till his retirement in December 2012, it added.

Mistry was inducted on the Board of Tata Global Beverages in June 2012.

In a separate filing, Indian Hotels Company said: "Mistry has been appointed as an Additional Director, designated as the Non-Executive Chairman of the company."

IHCL and its subsidiaries are collectively known as Taj Hotels Resorts and Palaces.

On Tata's retirement in December, 2012, Mistry will take the charge of IHCL, whose "unsolicited" USD 1.86 billion buyout offer for luxury hotels chain Orient Express was recently rejected by the New York Stock Exchange-listed firm.

This was the second takeover attempt by Indian Hotels, which holds about 7 per cent in Orient Express.

Mistry has been a director of Tata Sons since 2006 and was appointed Deputy Chairman last November.

Earlier this month, he was appointed as the Deputy Chairman of Tata Steel and Tata Chemicals.

Tata Motors and Tata Consultancy Services had also inducted Mistry as Deputy Chairman.

Tata Global Beverages' shares today closed trading 2.96 per cent down at Rs 159.10 apiece on the BSE.

Shares of IHCL closed at Rs 59.90 per unit, down 2.28 per cent from its previous close.
 


Post Your Comment (0 posted):
Post your comment Post Your Comments
Your name :
Your e-mail address :
Your website :
Add your comments :
Please enter the code you see in the image:
Code

Its homecoming of sorts for gorgeous former Miss Universe Sushmita Sen as she is set to s

Bollywood actress Sunny Leone was looking stunningly beautiful as she walk the ramp as t

Salman Khan a "national boyfriend" this name has been given to him by Karan Johar, Karan

Aamir Khan is fiercely protective about his movies, but the story of Peekay has been leake

Pakistani actress Saba Qamar's “Kambakht” is set to clash with Salman khan’s upcomin

People still think that Manju from Comedy Nights With Kapil is actually Kapil Sharma's rea

Recently, two Pakistani actresses have made inroads into Bollywood. Humaima Malick will be

These women can put to shame celebrities who boast of having a size zero figure. These wom

Rabiya Khan, the mother of deceased Bollywood actor Jiah Khan, assured the Bombay High Co

Another love lady of Akshay Kumar. Bollywood Khiladi has a long list of love affairs Sta

Bollywood's selfie obsession has caught the fancy of almost all stars in the industry. See

Social networking sites have been flooded by the news how Deepika Padukone wished Happy Bi

When Malaysian Airlines flight MH17 came down after being hit by a missile in east Ukraine

Sunny leone is in a denial mode but the site owners have her signed contract.Sunny isone d

A Malaysia Airlines plane was blown up over Eastern Ukraine by a sophisticated missile bel

We bet you did not know these facts about the birthday girl Priyanka ChopraToday is our de

A new study has claimed that if you sleep in the nude, then you can have a happier relatio

Russian President Vladimir Putin was on target but terrorists by mistakenly shot down Mala

Another conspiracy that is originating from the blasting of the Malaysian airlines flight

With the MeT department warning of heavy showers at various places in Uttarakhand on Satur

Bollywood star kid Aaradhya Bachchan celebrated the festival of light, Diwli with her fami

Country's first fish hospital to treat abnormalities and diseases in them is set to come u

Korean handset maker Samsung on Tuesday launched its most expensive device in the country


Samay Live

Samay Live

 

Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live

10.10.70.45