| Cyrus Mistry | |
|---|---|
| Born | 4 July 1968 |
| Nationality | Irish[1] |
| Ethnicity | Parsi |
| Alma mater | Imperial College London London Business School |
| Occupation | Deputy Chairman of Tata Sons |
| Spouse | Rohiqa Mistry |
| Children | 2 |
| Parents | Pallonji Mistry Patsy Perin Dubash |
Cyrus Pallonji Mistry (born 4 July 1968) is the youngest son of Irish construction magnate Pallonji Mistry. He has been appointed deputy chairman and chairman-designate of Tata Group and its holding company Tata Sons,[2] which will make him the first non-Indian national to head the Indian conglomerate.[1] Mistry will work with the current chairman Ratan Tata for one year and begin serving as chairman in December 2012.[3][4] Mistry will be the sixth chairman of the group and the second not named Tata after Sir Nowroji Saklatvala.[5]
Apart from the Tata Group, he also serves as a director on the board of several other companies, including Shapoorji Pallonji & Co, Forbes Gokak, Afcons Infrastructure and United Motors (India).
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Cyrus Mistry is the youngest son of Pallonji Mistry, an Irish-Parsi construction tycoon. Mistry's grandfather first bought shares in Tata Sons in the 1930s, a stake that currently stands at 18.5 percent, which is in the hands of Mistry's father, the largest single shareholder in a firm mostly controlled by trusts.[5] He has an elder brother Shapoor and two sisters: Laila and Aloo. His sister, Aloo, is married to Noel Tata, the half-brother of Ratan Tata.[6][7][8]
Mistry is married to Rohiqa Chagla, the daughter of lawyer Iqbal Chagla. Together, Mistry and his wife have two sons.[9]
Mistry studied at the Cathedral & John Connon School in Mumbai.[10] He graduated from the Imperial College, London with a BE in civil engineering and holds a master of science in management from the London Business School. He is a fellow of the Institution of Civil Engineers.[6][7]
Mistry 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. He serves as Chairman of the Board of Shapoorji Pallonji Group and Afcons Infrastructure Limited.[6][7]
Mistry serves as Chairman of the Board of Shapoorji Pallonji Group and Afcons Infrastructure Limited. He also 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. He has been a non-executive director of Forbes Gokak Limited since June 23, 2003. He is also a founding 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.[6][7][8]
In August, 2010, the board of directors of Tata Sons, formed a selection committee, comprising five members for deciding on a suitable successor to Ratan Tata, who is due to retire in December 2012.[11][12] Tata Sons is the promoter of all key Tata companies and holds the bulk of shareholding in these companies.[13] The chairman of Tata Sons has traditionally been the chairman of the Tata group.[13] Various candidates, including Tata's half-brother and son-in-law of Pallonji Mistry, Noel Tata and PepsiCo Chairperson Indra Nooyi were speculated to succeed Ratan Tata.[14]
On November 23, 2011, Mistry was named as the Deputy Chairman as a result of a unanimous vote of the Tata Sons Board of Directors and selection committee. He will begin serving as chairman when Tata retires in December 2012.[14][15][16]
When Mistry begins serving in his new role in 2012, it will be the second time in the company's 143-year-old history that the Tata group will have a non-Tata family member as its chairman.[17] In 1932, Sir Nowroji Saklatwala headed the group as its third chairman till his death in 1938.[17] Sir Nowroji was succeeded by JRD Tata, who headed the group for 53 years before handing over the baton to Ratan Tata in 1991.[17] Sir Nowroji was the nephew of Tata Group chairman Jamsetji Nusserwanji Tata and could assert himself as chairman, due to his family connections.[17] JRD Tata was not a direct descendant of Jamsetji Nusserwanji Tata either.[17] He was also related to the Tata Group founder through his grandfather, Ratanji Dadabhoy Tata.[17] While Mistry is not a Tata descendant, his sister is married to Noel Tata, Ratan Tata's half-brother, who was considered as a candidate to serve as chairman of Tata Group.[17]
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