Ratan Tata on Tuesday said that Cyrus Mistry’s removal was “absolutely necessary” for the future success of the Tata Group. In a letter written to employees Tata said, “The decision to change the leadership of Tata Sons was a well-considered and serious one for its board members. This difficult decision, made after careful and thoughtful deliberation, is one the board believes was absolutely necessary for the future success of the Tata Group.”
Mistry has alleged that his exit was illegal, based on invalid grounds including non-performance, and prefaced by constant interference by Ratan Tata. Since his sacking, Mistry and Tata Sons have issued statements hurtling at each other accusations of financial irresponsibility and ethical impropriety.
Tata’s letter came hours after Mistry released a statement about the group’s ill-fated partnership with Japanese telecom DoCoMo, which has been awarded $1.2 billion dollars by an international arbitration court but remains entangled in court cases.
