Rome
wasn’t built in months. Nor was it destroyed in months. The same is the case
with the spat between Ratan Tata, interim Chairman, Tata Group, and Cyrus
Mistry, former Chairman. The story starts, ironically, when Ratan decided to
search for his successor. The year: 2010. The five members of the selection
committee included Ratan’s loyalists-NA Soonawala, RK Krishna Kumar, the
UK-based Lord Bhattacharya, ShrinBharucha, and, of course, Cyrus, whose family
owns 18 per cent in Tata Sons, the group’s holding company. Cut to November 23,
2011. After 18 meetings in search of a professional outsider to carry on the almost
150-year-old Tata legacy, the committee selected Cyrus, who was already an
insider as Tata Sons’ director. He was actually an insider-outsider, possibly
the worst combination for a successor of a $100-billion business empire.
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