Cyrus Mistry to head Tata Global Beverages as Ratan Tata steps down

Ratan N Tata has stepped down as chairman of Tata Global Beverages Limited and Cyrus P Mistry, deputy chairman of Tata Sons, has been appointed as the new chairman, the company said in a filing with the Bombay Stock Exchange (BSE).

Mistry has also been appointed the chairman designate of Indian Hotels Company. He will take over as the chairman of the hotel chain from Ratan Tata on his retirement next month, Indian Hotels Company Ltd (IHCL) said in a release.

"Effective 20 November 2012, Mr Ratan N  Tata has stepped down as chairman of Tata Global Beverages Ltd and Mr Cyrus P Mistry has been appointed chairman. Mr Tata will, however, continue on the board of Tata Global Beverages Ltd till his retirement in December 2012," a company filing with the Bombay Stock Exchange (BSE) said.

Mistry was inducted on the board of Tata Global Beverages Limited in June 2012. A director of Tata Sons Limited since 2006, he was appointed deputy chairman of Tata Sons Limited in November 2011.

Earlier this month, he was appointed as the deputy chairman of Tata Steel and Tata Chemicals.

Tata Motors and Tata Consultancy Services had also inducted Mistry as deputy chairman.