Ratan Tata, the interim chairman of Tata Sons told senior management of group firms to act as leaders in their respective markets and enhance shareholder returns.
The Tata Group will evaluate ongoing initiatives in group companies, according to an e-mailed statement citing Ratan Tata’s address to senior management of group firms. Tata asked group companies to focus on their respective businesses, without being concerned about the change in leadership.
Tata met chief executive officers, managing directors and other senior leaders of group companies, less than 24 hours after Cyrus Mistry was sacked as Tata Sons’ executive chairman.
Tata clarified that he assumed the role of interim chairman to ensure continuity and stability, and to avert a vacuum. “This will be for a short time. A new permanent leadership will be in place,” he added.
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