Tata shake-up at the top could slow group's bid to slash US$30b in debt

Mumbai

TATA SONS' shock move to oust Cyrus Mistry and his core team of advisers and bring back Ratan Tata as chairman of the salt-to-software conglomerate could lead to delays in the group's bid to reduce its debt load across its businesses, analysts say.

The stunning boardroom coup, announced late on Monday, sent shares in some of Tata's major listed entities lower on Tuesday, despite the company's attempt to calm the waters by bringing back a well-known and widely respected hand like Ratan Tata to the helm.