India's Tata Sons dumps Cyrus Mistry as chairman

- India's Tata Sons dumped Cyrus Mistry as its chairman on Monday, almost four years after he was appointed as the first chief of the conglomerate from outside the immediate Tata family.

"Tata Sons today announced that its Board has replaced Mr. Cyrus P. Mistry as Chairman of Tata Sons. The decision was taken at a board meeting held here today," the company said in a statement.

Tata Sons is the holding company of the Tata Group. 

It added that industrialist Ratan Tata, 78, had been appointed interim chairman until a successor was appointed. The search was likely to take four months, the statement said.