The nation is witnessing numerous actions and speculations in regard to the removal of Cyrus Mistry as the Chairman of Tata Consultancy Services (TCS). Now a week after TCS congregates for a general meeting scheduled for December 13, 2016, its former CEO, F.C. Kohli ropes in the power struggle. Kohli counterattacked Mistry’s recent allegations stating that at no point of time did Tata Group intended to sell TCS to IBM.
Cyrus Mistry has alleged that when Kohli was hospitalized for a heart surgery, Ratan Tata sought to sell TCS to IBM and stated it as ‘near-death experience’ for the company. Mistry’s affirmations were counterstriked through a press release issued by TCS. The month long struggle and discussions on both sides show no sign of mutual consent or a decision as of now.
On the contrary, a letter from Mistry’s office stated, “Mr. Mistry has greatest respect for Mr. Kohli and does not wish to join issue with him.”
The Tata Group has eventually included retired top management bosses of TCS, IHCL and Tata Chemicals Limited for demystifying Cyrus Mistry’s contentions. Mistry also made allegations of misgovernance and poor decision making during the acquisition of Corus, a decade back in 2007. On this, former Tata Steel MD, B Muthuraman refutes by claiming ‘Corus acquisition as a well thought out decision‘.
The Tata – Mistry clash is further estimated to increase revolutionized decision makings and developments in the industry from all corners. With TCS chipped in as a major concern for December general meeting, IT industry shares a familiar concern for long term business advancements and developments.