OP Bhatt interim chairman of Tata Steel

The board of Tata Steel voted to replace Cyrus Mistry as the chairman of the company and named State Bank of India veteran OP Bhatt as an interim replacement until the general meeting (EGM) is held on December 21. 
●    At the EGM, shareholders will vote to remove Mistry and Nusli Wadia as directors of the company as it takes note of the leadership changes at Tata Sons. 
●    The company said this decision was taken to also ensure stability in the larger interest of Tata Steel’s stakeholders including employees, trading partners, financial stakeholders and local community around its operations. 
●    Tata Steel said the decision to hold the EGM was taken at a board meeting on Friday -- a fallout of the November 10th notice from Tata Sons. 
●    Tata Sons, owns 29.75 per cent in Tata Steel and is the principal shareholder.