According to a company statement, “The Board of Directors of Tata Motors today announced the appointment of Cyrus P Mistry as the Chairman of the Board with effect from December 28, 2012, on the retirement of Ratan N Tata”.
While Mistry was appointed deputy chairman only last November, has been a director of Tata Sons since 2006. Tata recently stepped down as chairman of Tata Global Beverages. Therefore, Mistry was inducted into the board of Indian Hotels Company. He was also appointed as deputy chairman of Tata Steel, Tata Chemicals and Tata Consultancy Services.