Cyrus P. Mistry will soon replace Ratan Tata as the chairman of India’s largest business group, Tata Sons Ltd. Mistry is the son of billionaire Shapoorji Pallonji Mistry, who is the largest shareholder of the Tata Group. He will soon assume charge as the deputy chairman of Tata Group and in December 2012, he will replace Ratan Tata. Tata Group had set up a five member panel to decide upon who will succeed Ratan Tata. Ratan Tata has been running the Mumbai-based Tata Group for about two decades.
Cyrus P. Mistry is not an outsider to the Group. He has been active in the Boards from 2006 onwards and his family owns 18% of the group holding company. Cyrus P Mistry will be the second person outside the Tatas to lead the group, according to the company’s website. Mistry addressing media said that he is aware that he has huge responsibilities and a huge legacy to look after which he will do with much caution and passion.
Cyrus P. Mistry, an engineer from the Imperial College of Science, Technology and Medicine in London, began working for the group controlled by his father, billionaire Shapoorji Pallonji Mistry, in 1991. Cyrus did his masters in management from the London Business School.
Report by Anupama