TCS board meets under Ishaat Hussain, directors tight-lipped

Mumbai: The board of Tata Group's crown jewel TCS today met for the first time under the newly appointed Chairman Ishaat Hussain, but ousted chairman Cyrus Mistry, who continues to be a director, was not present.



The board of country's largest software exporter met at its office in downtown Mumbai in the morning, days after promoter Tata Sons replaced Mistry with Hussain and also an announcement to have a special shareholders' meeting to ease him as a director.

The directors started streaming into the company office starting 9 am for the meeting, which sources said was scheduled for 11 am.

It ended around noon, but the directors exiting TCS House were tight-lipped about any decision.

It was widely expected that the board would decide on a date of the EGM against the backdrop of majority stakeholder Tata Sons seeking shareholders' approval to remove Mistry as a director.

Tata Sons made use of one of the statutes that makes it possible to nominate the chairman of the board and replaced Mistry with group veteran Hussain.

Refusing to answer media queries, Hussain said communication will happen only through an official statement which is yet to come.

Two of the directors -- Hussain and MD and CEO N Chandrasekaran -- left for group headquarters Bombay House for Tata Sons' board meet late in the afternoon.

Updated Date: Nov 17, 2016 18:03 PM

Also Watch

IPL 2018: Royal Challengers Bangalore eye revival against Chennai Super Kings as 'Cauvery Derby' comes back to life
  • Thursday, April 26, 2018 In the Kanjarbhat community, a campaign against 'virginity tests' is slowly gaining ground
  • Tuesday, April 24, 2018 It's A Wrap: Beyond the Clouds stars Ishaan Khatter, Malavika Mohanan in conversation with Parul Sharma
  • Monday, April 9, 2018 48 hours with Huawei P20 Pro: Triple camera offering is set to redefine smartphone imaging
  • Monday, April 16, 2018 Rajyavardhan Singh Rathore interview: Sports can't be anyone's fiefdom, we need an ecosystem to nurture raw talent

Also See