Tata Chemicals shareholders okay Cyrus Mistry's appointment

New Delhi: Tata Chemicals today said its shareholders have approved the appointment of Cyrus P Mistry as director in the company's board.

Shareholders approved Mistry's appointment as director during the company's annual general meeting held on August 22, Tata Chemicals said in a BSE.

The shareholders have also approved the re-appointment of Nusli N Wadia as director of the company, it added.

The members also approved a dividend at Rs 10 per share of face value of Rs 10 each (100 per cent) for the financial year 2011-12.

Ratan Tata will step down as Chairman of Tata Sons and other group companies in December-end after a stint of over 21 years, which saw the group becoming a true multinational with more than 65 per cent of revenue coming from overseas operations.

Cyrus Mistry will succeed him as Chairman of the salt-to-software conglomerate.

Shares of Tata Chemicals today closed at Rs 309.10 on the BSE, down 0.50 per cent from its previous close.