Mumbai:
After the removal of Cyrus Mistry, Ratan Rata, interim chairman of India's Tata Sons conglomerate may soon outline a revamped top management structure for the $100 billion group within days, according to sources.
On the day Mistry was ousted, Tata wrote a letter to employee mentioning that "a new management structure is being put in place," with a selection committee formed to find a new chairman.
"The new management structure that (Ratan) Tata promised will soon be put in place, and it will speak a lot about the future of the group," the source said, asking not to be named as the matter is private.
Setting up the new management structure will be one of Tata's first steps since he returned as interim chairman, four years after stepping down and appointing Mistry in his place.
Mistry's advisory team included five people in key roles such as group heads of business development, strategy and public affairs. Two of those five - Mukund Rajan, Tata's brand custodian, and Harish Bhat, who oversaw Tata's retail ventures - are likely to be part of the new management structure, the source said.
The other three members of Mistry's advisory council have resigned.
