Ratan Tata, the new interim chairman of Tata Sons, has sent out a second letter to employees of the Tata group companies after admittedly receiving emails and calls from many of them about the replacement of Cyrus Mistry.
In a letter dated October 28, a copy of which is with BloombergQuint, Tata clarified that the change in leadership was a "well considered and serious" decision , "absolutely necessary" for the future of the Tata Group.
He asserted that group companies need to focus on their profit margins and market position vis-a-vis competition and be leaders rather than followers.
Here's the full text of Ratan Tata's letter.
Also Read: Tata Group Companies Rebut Cyrus Mistry's ‘Letter Bomb'
Also Read: Tata's Docomo Deal Allegations ‘As False As It Is Mischevious', Says Mistry
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