Cyrus Pallonji Mistry will succeed Ratan Tata at the helm of Tata Sons. He’s been appointed Deputy Chairman and will work with Mr Tata for one year, before taking over in December 2012. 43-year-old Mistry was a director of Tata Sons and Tata Elxsi (India).
Ratan Tata retires next year when he turns 75. He joined the Tata group in 1962 and has been the Chairman since 1991.
Who is Cyrus Mistry?
Cyrus Mistry is the son of construction tycoon Pallonji Shapoorji Mistry. Valued at $8.8 billion, Pallonji holds an 18.5 per cent stake in Tata Sons, making him the single largest shareholder.
43-year-old Cyrus is the younger son of Pallonji and is married to Rohika Chagla, the daughter of lawyer Iqbal Chagla. He has an elder brother – Shapoor Mistry and one of his sisters is married to Noel Tata, Ratan Tata’s half-brother.
He has been a director of Tata Sons since September 1, 2006. He served as a Director of Tata Elxsi Limited, from September 24, 1990 to October 26, 2009 and was a Director of Tata Power Co. Ltd until September 18, 2006.
Mr Mistry also serves as Senior Vice President of Production of DQ Entertainment Plc. He serves as Senior Vice President of Business Development and Technology at DQ Entertainment (International) Limited. He serves as Chairman of the Board of Shapoorji Pallonji Group and Afcons Infrastructure Limited.
Mr Mistry serves as Director of various companies including – Forvol International Services Ltd, Shapoorji Pallonji & Co. Ltd, Cyrus Investments Ltd, Shapoorji Pallonji Power Co. Ltd, Buildbazaar Technologies (India) Pvt Ltd, Sterling Investment Corporation Pvt. Ltd, Samalpatti Power Co. Pvt. Ltd, Shapoorji Pallonji & Co. (Rajkot) Pvt. Ltd, Shapoorji Pallonji Finance Ltd, Shapoorji Pallonji Infrastructure Capital Co. Ltd, Oman Shapoorji Construction Co. Ltd and Muscat Pallonji Shapoorji & Co. Pvt. Ltd.
Mr Mistry has been a Non-executive Director of Forbes Gokak Limited since June 23, 2003, and was associated with Convergence Media Private Limited India, as Senior Vice President – Operations and Planning and UTV Toons India.
Mr Mistry is Fellow of the Institute of Civil Engineers. He holds BE (Civil Engineering) from Imperial College, London and Master of Science in Management from London Business School. He holds a Bachelor of Commerce from Mumbai University.
An avid golfer, Mr Mistry is also a founder member of the Construction Federation of India. He is a trustee of the Breach Candy Hospital Trust, Mumbai. He is also on the board of Imperial College India Foundation.