Tuesday, October 25, 2016

Who is Cyrus Pallonji Mistry

Cyrus Pallonji Mistry born 4th July 1948, is a Irish-Indian businessman and was the chairman of Tata sons Group, an Indian business conglomerate, between 2012 and 2016.

He was made the Chairman of the company in December 2012 after its previous Chairman, Ratan Tata, formally retired.
Who is Cyrus Pallonji Mistry
Ratan Tata and Cyrus Pallonji Mistry (Left to Right)

He was the sixth chairman of the group and the only the second chairman who did not carry the Tata name, after Nowroji Saklatwala.

Before this, he was the Managing Director of the Shapoorji Pallonji Group. He was also on the board of Tata Sons, the holding company that controls the Tata Group.

Mistry, who has been with the group since 2006 in various capacities, hails from the Shapoorji Pallonji family, the largest private shareholder of the group's holding company Tata Sons.

His appointment as the new chairman to Tata sons group had brought an end to years long search for next heir to step into Ratan Tata's shoe.

Mr. Mistry is the youngest son of construction tycoon Pallonji Mistry, who also owns a significant stake in the group.

He is a graduate of civil engineering from Imperial College of London, and has a Master of Science in Management from the London Business School.

In a sudden turn of events that has stunned the corporate world, Ratan Tata, the corporate icon, who retired in 2012 as chairman of the Tata Group is back at the helm.

Tata Sons, the holding company of the Tata conglomerate, on Monday(24th October 2016) appointed Mr Tata as interim Chairman for four months replacing Cyrus P Mistry.

The Board of Directors at Tata Sons in its meeting on Monday also appointed a panel to search for new Chairman for the Tata Group.

The Selection Committee includes Ratan Tata, Venu Srinivasan, Amit Chandra, Ronen Sen and Lord Kumar Bhattacharyya. The Committee has been given four months to choose new Chairman for Tata Sons.

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