Three top executives at Tata Sons, N S Rajan, Madhu Kanan and Nirmalya Kumar have resigned days after Cyrus Mistry's ouster.
Less than a week after Cyrus Mistry was ousted, three senior group executives at Tata Sons --- N S Rajan, Madhu Kanan and Nirmalya Kumar --- have resigned.
Rajan who held the position of Tata Group's chief of human resources (CHRO), was one of the members of the now disbanded Group Executive Council (GEC) set up by Mistry. He put in his papers on Friday, sources said. Rajan came on board of the GEC in May 2013, after it was set up a month earlier headed by Mistry with the objective providing strategic and operational support to him. On Monday, when the ouster of Mistry by the Tata Sons board was announced, the GEC was also disbanded.
Soon after, Tata Group's website removed all the details related to the GEC, including profile of the members. It was speculated that Mukund Rajan and Harish Bhat, members of the GEC would be offered new roles within the group but the fates of other members, including ex-BSE chief Madhu Kannan, strategist Nirmalya Kumar and Tata veteran Harish Bhat were unclear.
Before joining the Tata group, Rajan was partner and global leader, people and organisation, Ernst & Young. He had also worked in various organisations, including Ranbaxy, Asian Paints, BlowPlast, ABC Consultants, and Asia Online.
Apart from Rajan, Public Affairs head Madhu Kannan and group strategy executive Nirmalya Kumar too have resigned, reported ndtv. There was no certainty that all the positions would be re-filled as a source close to Tata said that the structure was likely to change after Mistry's ouster. However, another source reported that new replacements could be named as early as next week.
"In the short term, obviously there'll be some disruption at the group level" said a shareholder Shriram Subramanian of InGovern, to ndtv. "People leaving at senior levels shows there's a lack of confidence between the two sides, and that needs to be reinstated at the earliest to contain any longer-term damage."
(With agency inputs)
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