Tata Trusts Boardroom Shake-Up: Mehli Mistry Ousted After Trustees Vote Against Reappointment

In a major development at Tata Trusts, Mehli Mistry has been voted out after three trustees opposed his reappointment during the board meeting held earlier today. The decision marks a significant shift in the Trusts’ leadership dynamics and brings an end to Mistry’s tenure on the board.
 

As reported earlier, the Tata Trusts Board was vertically divided between - Noel Tata, Venu Srinivasan, and Vijay Singh - on one side, opposing the reappointment of Mistry, and Darius Khambata, Pramit Jhaveri, and Jehangir HC Jehangir on the other, backing the continuation of Mistry.

It may be noted that a complete consensus is mandatory for any Tata Trusts member to continue holding the position as a trustee.

 

The developments within Tata Trusts Boardroom have grabbed headlines in the recent past, given that the Tata Trusts, through its 51 per cent stake in Tata Sons, controls the billion-dollar Tata Group empire. In September, when the rift within the Tata Trusts boardroom came to the forefront, the government stepped in and top board officials met Home Minister Amit Shah and Finance Minister Nirmala Sitharaman.

The outcome of the final meeting today, will also decide the future of the Tata Sons IPO. While Shapoorji Pallonji Group, one of the shareholders of Tata Sons has been pressing for Tata Sons IPO seeking more transparency and governance, the Tatas are reportedly opposed to the company going public.

No Official Word Yet from Tata Trusts

Despite the reported voting outcome, there has been no official press release or confirmation from Tata Trusts on the matter so far.

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