Mistry was offered opportunity to step down voluntarily which he rejected, says Ratan Tata

Interim chairman of Tata Sons, Ratan Tata has opened up to the unceremonious exit of Cyrus Mistry from the post of Tata Sons, Group Chairman.

Ratan Tata has said that Tata Sons decided to remove Cyrus Mistry as relationship with him steadily deteriorated and attempt to remediate went unheeded.

While speaking to shareholders, Tata said that Mistry was offered an opportunity to step down voluntarily from the Chairman position which he rejected.

Tata also said that Tata Sons removed Mistry as it lost confidence in him and his ability to lead the Tata Group .