Cyrus Mistry Removed as TGBL Chairman

Cyrus Mistry was voted out as chairman by the board of the Tata Global Beverages, the second listed firm of $103 billion Group to remove him. 7 out of 10 directors at the board meeting of Tata Global Beverages voted for removal of Mistry as chairman. Tata Global Beverages named company veteran Harish Bhat as its new chairman. Bhat is believed to be a confidant of Ratan Tata.