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Why Tata Group replaced Chairman Cyrus Mistry with his predecessor Ratan Tata?

Cyrus Mistry is the second chairman who was appointed from outside the family circle

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October 26, 2016: One of the most respected business brands of India, Tata Sons, the holding company of the Tata Group, unexpectedly took a sudden move on Monday by replacing Chairman Cyrus Mistry with Ratan Tata, his predecessor. Cyrus Mistry is the second chairman who was appointed from outside the family circle. He was chosen as a successor to Ratan Tata and was appointed in 2012 with high hopes to steer the company. His removal in less than four years came as a shock to the business world.

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Adding to that, there is no proper clarity as to why the decision was taken. So, the first question on everyone’s mind was, WHY?
Here are some of the theories according to the analysis of country’s major dailies:

Performance Issues

The Economic Times mentions about Ratan Tata being allegedly unhappy with Mistry’s “approach of shedding non-profit businesses, including the conglomerate’s steel business in Europe, and concentrating only on cash cows.”

It also mentions about the “fundamental disconnect between Mistry and Tata, particularly with regard to ethos, values, vision and the direction that the group was headed in. Detailed letters were sent to Mistry asking him to spell out his vision, five-year plan, etc, but the responses were vague and non-specific.”

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Contrasting Styles in Investment

Mint also writes about “contrasting styles in investment” stating the sharp contrast in the approach of Mistry and Tata. It notes, “The approach of Mistry, 48, was in sharp contrast with that of his predecessor Ratan Tata, 78, under whom the group was one of India’s most aggressive acquirers, especially of overseas assets.”
It also added, “Tata group shares may pay a price for the abrupt, opaque decision.”

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Conflict

The Business Standard speaks of the conflict that was building up and the people known were quite aware of it. It also cites the instances where Ratan Tata felt he was not informed properly about the business decisions taken by Mistry.

That being said, if Mistry takes a legal action against his sacking that could hamper Tata as he is the son of the sole largest individual shareholder in Tata Sons.

– by Pinaz Kazi of NewsGram. Twitter: @PinazKazi

 

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Aadhaar Helpline Mystery: French Security Expert Tweets of doing a Full Disclosure Tomorrow about Code of the Google SetUP Wizard App

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Google's new tool can help you make our planet healthy. Wikimedia Commons

Google’s admission that it had in 2014 inadvertently coded the 112 distress number and the UIDAI helpline number into its setup wizard for Android devices triggered another controversy on Saturday as India’s telecom regulator had only recommended the use of 112 as an emergency number in April 2015.

After a large section of smartphone users in India saw a toll-free helpline number of UIDAI saved in their phone-books by default, Google issued a statement, saying its “internal review revealed that in 2014, the then UIDAI helpline number and the 112 distress helpline number were inadvertently coded into the SetUp wizard of the Android release given to OEMs for use in India and has remained there since”.

Aadhaar Helpline Number Mystery: French security expert tweets of doing a full disclosure tomorrow about Code of the Google SetUP Wizard App, Image: Wikimedia Commons.

However, the Telecom Regulatory Authority of India (TRAI) recommended only in April 2015 that the number 112 be adopted as the single emergency number for the country.

According to Google, “since the numbers get listed on a user’s contact list, these get  transferred accordingly to the contacts on any new device”.

Google was yet to comment on the new development.

Meanwhile, French security expert that goes by the name of Elliot Alderson and has been at the core of the entire Aadhaar controversy, tweeted on Saturday: “I just found something interesting. I will probably do full disclosure tomorrow”.

“I’m digging into the code of the @Google SetupWizard app and I found that”.

“As far as I can see this object is not used in the current code, so there is no implications. This is just a poor coding practice in term of security,” he further tweeted.

On Friday, both the Unique Identification Authority of India (UIDAI) as well as the telecom operators washed their hand of the issue.

While the telecom industry denied any role in the strange incident, the UIDAI said that he strange incident, the UIDAI said that some vested interests were trying to create “unwarranted confusion” in the public and clarified that it had not asked any manufacturer or telecom service provider to provide any such facility.

Twitter was abuzz with the new development after a huge uproar due to Telecom Regulatory Authority of India (TRAI) Chairman R.S. Sharma’s open Aadhaar challenge to critics and hackers.

Ethical hackers exposed at least 14 personal details of the TRAI Chairman, including mobile numbers, home address, date of birth, PAN number and voter ID among others. (IANS)

Also Read: Why India Is Still Nowhere Near Securing Its Citizens’ Data?