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Ratan Tata's ally Mehli Mistry resigns from Tata Trusts
Business
Mehli Mistry, a longtime ally of Ratan Tata, has resigned as trustee from key Tata Trusts after the board voted against keeping him on.
In his note to Chairman Noel Tata, Mistry said he was stepping down to end speculation and protect the Trusts's reputation.
Mistry's exit signals growing disagreements at the top
This is a big deal for the Tata group—Tata Trusts owns most of Tata Sons, which shapes the whole company's direction.
Mistry leaving signals growing disagreements at the top and breaks from their usual "everyone agrees" approach.
It could mean changes in how one of India's biggest business groups is run going forward.