Tata Power Appoints Cyrus Mistry as Additional Director
Tuesday, 27 December 2011, 21:39 IST
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Mumbai: Tata Power has appointed Cyrus P. Mistry, the chosen successor to Tata Group Chief Ratan Tata, as an Additional Director of the company. In a regulatory filing, Tata Power said the appointment of Mistry has been effective from December 23. Last month, Tata Sons announced that Mistry would succeed Ratan Tata, who retires in December 2012. As on December 23, Mistry did not own any equity shares of Tata Power. Mistry is a Director in Tata Sons and Tata Elxsi (India). He also holds non-executive position on boards of several other companies. Earlier this month, Mistry resigned from the board of Forbes & Company, a Shapoorji Pallonji Group firm. After being announced as the next Chief of Tata Group, Mistry had said that he would disassociate himself from all family-related businesses. Shares of Tata Power rose marginally to close at 88.55 on the BSE.
Source: PTI
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