Outcome Of TCS Shareholders’ Meeting, A Foregone Conclusion: Cyrus Mistry
What I am fighting for is to save the soul of the Tata Group.Cyrus Mistry’s letter to TCS shareholders
Just an hour or so ahead of the extraordinary general meeting of Tata Consultancy Services Ltd., ousted Tata Sons Chairman, Cyrus Mistry admitted that his removal from the board is a foregone conclusion, as the requisitionist (Tata Sons) also happens to be the majority shareholder with more than 70 percent of the shares.
The EGM is the first of many this month that will determine Mistry’s future at the Tata Group.
Making a case for his new letter, Mistry said his resistance and fight was based on principles of good governance and ethical practices, rather than facing the ‘foregone conclusion’.
He added that TCS over the recent past has seen its good governance values being "replaced by whims, fancies and personal agenda”.
Whatever be the decibel level of the voice that would drown your vote, I call on you to vote with your conscience and send a signal that catalyses a larger discussion on governance reform, to save the very fabric of what we have all inherited – the Tata values that our founders handed us.Cyrus Mistry’s letter to TCS shareholders
Here is the full text of the letter