New Delhi: Tata Consultancy Services Ltd (TCS) shareholders voted to remove Cyrus Mistry, the ousted chairman of Tata Sons, as a director, according to the results of an extraordinary general meeting on Tuesday.
About 93 per cent of TCS shareholders who cast their vote were in favour of removing Mr Mistry, the company said in a regulatory filing.
His ouster comes as no surprise given Tata Sons majority stake in the company, about 73 per cent as of September-end, according to Thomson Reuters data. TCS, India’s biggest technology services firm by sales, contributes the bulk of the group’s revenue and profit.
About 43 per cent of TCS’s institutional holders who voted were against the removal of Mr Mistry, according to the filing.
Interestingly, 78 per cent of voting shareholders who were not promoters or institutional holders were against Mr Mistry’s ouster.
