» Industrial conglomerate Tata Sons replaced Cyrus P. Mistry as its chairman.
» Ratan N. Tata will be the interim chairman of the company.
» A search committee has been formed to select the next chairman within four months.
» The reason for Mistry's ouster is not clear; some reports say poor performance at group companies are to blame.
» Mistry was chosen as chairman of Tata Sons in November 2011.
» Mistry has said he will contest the decision in court; he will continue to be a member of the board.
» Shares in Tata Group companies dropped a day after the board ousted Mistry.