Cyrus Mistry Selected Chairman of Tata Sons

Cyrus Mistry

Cyrus Mistry, Managing Director of Shapoorji Pallonji Group – and a Director of Tata Sons since 2006 – has been unanimously selected by a five-member panel as successor to Ratan Tata who is going to retire in December 2012 when he turns 75.

Ratan Tata has been the Chairman of Tata sons since 1991.

Cyrus Mistry is the youngest son of Pallonji Mistry, a tycoon in the construction business, who has substantial shareholding in Tata Sons.

Cyrus Mistry was appointed as Deputy Chairman of Tata Sons on Wednesday (23rd November 2011). He will be working as an understudy of Ratan Tata till the latter’s retirement in December 2012.

Cyrus Mistry graduated in Civil Engineering from the Imperial College, London, and is an MS in Management from the London Business School.

The Tata Group of which Tata Sons is the flagship, holding company, is worth over $70 billion. The group has business interests in several fields like automobiles, telecommunications, hotels, etc.

Ratan Tata said: “The appointment of Mr.Cyrus P. Mistry as Deputy Chairman of Tata Sons is a good and fr-sighted choice. He has been on the board of Tata Sons since August 2006. I have been impressed with the quality and caliber of his participation, his astute observations and his humility. He is intelligent and qualified to take on the responsibility being offered.”

Mr.Mistry said: “I feel deeply honoured by this appointment. I am aware that an enormous responsibility, with a great legacy, has been entrusted to me. I look forward to Mr.Tata’s guidance in the year ahead in meeting the expectations of the group.”

We too hope so. Not because we have any shares in the Tata Group but because the legacy of Jamshedji Tata makes every Indian proud. In a desert of crumbling businesses and institutions, the Tata Group has always been an oasis and an icon that every Indian has had a reason to be proud of.

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