Cyrus Mistry is the new Tata chairman

Tata Motors has appointed Cyrus P Mistry as its Chairman with effect from December 28 when the group chief Ratan Tata retires.  

"The Board of Directors of Tata Motors today announced the appointment of Cyrus P Mistry as the Chairman of the Board with effect from December 28, 2012, on the retirement of Ratan N Tata," the company said in a statement.

Mistry has been a director of Tata Sons since 2006 and was appointed Deputy Chairman in November 2011. He was inducted to the Board of Tata Motors as a director on May 30, 2012. Mistry will also be appointed to the Board of Jaguar Land Rover. Meanwhile, Ravi Kant has stepped down as director of Jaguar Land Rover. Mistry will be the sixth chairman of the group and the second not named Tata after Sir Nowroji Saklatvala.