The Tata saga continues.

 

Tata Sons has nominated Ishaat Hussain to be the interim chairman of the Tata Consultancy Services board.  The Bombay Stock Exchange (BSE) has been informed about this new appointment.


TCS is one of the largest exporters of software services.  According to a report in The Hindu , they had received a letter from Tata Sons Limited. "The Company has received a letter dated November 09, 2016 from Tata Sons Limited nominating Mr. Ishaat Hussain as the Chairman of the Board of Directors of the Company in place of Mr. Cyrus P. Mistry with immediate effect. In view of this, Mr. Mistry has ceased to be the Chairman of the Board of Directors of the Company and Mr. Hussain is the new Chairman of the Company. The Company has been further informed that Mr. Hussain shall hold office as Chairman of the Company until a new Chairman is appointed in his place,

 

In addition to this, the report added, “Tata Sons has also issued a special notice to convene an extraordinary general meeting.”
 

Last month saw Mistry’s shocking ouster, only to be replaced by Ratan Tata.