Tata Sons deputy chairman Cyrus Mistry has been appointed as the chairman designate of Indian Hotels Company [ Get Quote ].
He will take over as the chairman of the hotel chain from Ratan Tata [ Images ] on his retirement next month, Indian Hotels Company Ltd (IHCL) said in a filing to the Bombay Stock Exchange [ Images ] on Tuesday.
This decision was taken at a meeting of the board of the company held in Mumbai [ Images ].
"...Mistry was appointed as an Additional Director designated as the Non-Executive Chairman of the company," the filing said.
On Tata's retirement in December, 2012, Mistry will take the charge of IHCL, whose "unsolicited" $1.86 billion buyout offer for luxury hotels chain Orient Express was recently rejected by the New York Stock Exchange-listed firm.
This was the second takeover attempt by Indian Hotels, which holds about 7 per cent in Orient Express.
Mistry has been a director of Tata Sons since 2006 and was appointed Deputy Chairman last November.
Shares of IHCL closed at Rs 59.90 a piece on the BSE on Tuesday, down 2.28 per cent from its previous close.
IHCL and its subsidiaries are collectively known as Taj Hotels Resorts and Palaces.