Cyrus Mistry, the former chairman of Tata Sons, has begun vacating Bombay House, the iconic headquarters of the $103 billion Tata Group in south Mumbai, days >after his abrupt removal .
“The physical shifting process has started,” a senior Tata Group official said confirming that Mr. Mistry’s belongings are being removed from his office.
According to officials, Mr. Mistry’s personal staff is relocating his belongings, mainly files and books, from the ousted Chairman’s sprawling office, the fourth-floor corner room in the East wing of Bombay House.
The shifting process, which commenced on Saturday, is likely to end on Monday, according to officials.
Mr. Mistry first moved into Bombay House in November 2011 when he was appointed Deputy Chairman of Tata Sons with a mandate to be the next Chairman after the retirement of Ratan Tata a year later.
In that period, he was said to have been groomed by Mr. Tata, even as he familiarised himself with the >functioning of the companies of the Group . After becoming Chairman on December 28, 2012, he continued to operate from the same office.
Mr. Mistry had, in fact, moved into Bombay House for the long haul, said company insiders. It was believed that he would remain at the helm for close to three decades, going by the retirement age of 72.
Mistry’s innings with Tata Sons began in 2006
Cyrus Mistry’s dream run at Tata Sons ended suddenly as >Ratan Tata was named interim chairman last week amid allegations of the erosion of the Group’s values and of non-performance, among others.
Mr. Mistry was first inducted into the board of Tata Sons in 2006 when his father Pallonji Mistry, called the ‘Phantom of Bombay House’ because of the quiet and assured way he wields influence in the group, decided to retire. Mr. Mistry’s family and companies that it controls hold 18.4 per cent stake in Tata Sons.
On Wednesday, two days after he was replaced by Mr. Tata, Mr. Mistry visited Bombay House for a couple of hours to attend a board meeting of Tata Global Beverages of which he is Chairman
It is learnt that Mr. Mistry no longer visits Bombay House on a regular basis.
