New Delhi: Tata Sons has appointed Ishaat Hussain, a chartered accountant from England and Wales, who also attended the Advanced Management Program at the Harvard Business School, as the Chairman of the group's hugely successful IT firm TCS in place of Cyrus Mistry, who was ousted last month.
"The company (TCS) has received a letter dated November 9, 2016 from Tata Sons Ltd nominating Ishaat Hussain as the Chairman of the Board of Directors of the company in place of Cyrus P Mistry with immediate effect. In view of this, Mistry has ceased to be the Chairman of the Board of Directors of the Company and Hussain is the new Chairman of the company," TCS said in a regulatory filing.
TCS said Hussain shall hold office as the Chairman of the company until a new Chairman is appointed in his place.
"Tata Sons has issued a special notice under Section 169 read with Section 115 of the Companies Act, 2013 and a requisition for convening an extraordinary general meeting of shareholders of the company under Section 100(2) of the Companies Act, 2013 to consider a resolution for the removal of Cyrus P Mistry as Director of the Company," it added.
Born on September 2, 1947, Ishaat Hussain completed his schooling from The Doon School in 1963 and joined St. Stephens College Delhi to pursue graduation in Economics.
Prior to joining Tata Sons, Hussain has worked as the senior vice-president and executive director – finance in Tata Steel for almost 10 years. Besides being on the board of Tata Sons Limited, Hussain is Chairman of Voltas Limited and Tata Sky Limited.
He is also on the boards of several Tata Companies such as Tata Steel, Tata Industries, Tata Teleservices, Titan Industries Limited.