Cyrus Pallonji Mistry
Encyclopedia
Cyrus Pallonji Mistry 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
, which will make him the first non-Indian national to head the Indian conglomerate. Mistry will work with the current chairman Ratan Tata
for one year and begin serving as chairman in December 2012. Mistry will be the sixth chairman of the group and the second not named Tata after Sir Nowroji Saklatvala.
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).
, 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. 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
.
Mistry is married to Rohiqa Chagla, the daughter of lawyer Iqbal Chagla. Together, Mistry and his wife have two sons.
. 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
.
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.
were speculated to succeed Ratan Tata.
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.
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. In 1932, Sir Nowroji Saklatwala
headed the group as its third chairman till his death in 1938. Sir Nowroji was succeeded by JRD Tata, who headed the group for 53 years before handing over the baton to Ratan Tata in 1991. Sir Nowroji was the nephew of Tata Group chairman Jamsetji Nusserwanji Tata and could assert himself as chairman, due to his family connections. JRD Tata was not a direct descendant of Jamsetji Nusserwanji Tata either. He was also related to the Tata Group founder through his grandfather, Ratanji Dadabhoy Tata. 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.
Pallonji Mistry
Pallonji Shapoorji Mistry is an Irish-Parsi construction tycoon. According to Forbes, his wealth is estimated to be US$8.8 billion as of 2011. He is the richest person of Parsi descent followed by Adi Godrej at US$7.3 Billion . With his 18.5% stake in Tata Sons, he is the single largest...
. He has been appointed deputy chairman and chairman-designate of Tata Group
Tata Group
Tata Group is an Indian multinational conglomerate company headquartered in Mumbai, Maharashtra, India. Tata Group is one of the largest companies in India by market capitalization and revenue. It has interests in communications and information technology, engineering, materials, services, energy,...
and its holding company Tata Sons
Tata Sons
Tata Sons is a promoter of the key companies of the Tata Group and holds the bulk of shareholding in these companies. It was established as a trading enterprise by Group founder Jamsetji Tata in 1868...
, which will make him the first non-Indian national to head the Indian conglomerate. Mistry will work with the current chairman Ratan Tata
Ratan Tata
Ratan Naval Tata is the present chairman of Tata Sons and therefore, Tata Group. Also, he is one among the few in the world...
for one year and begin serving as chairman in December 2012. Mistry will be the sixth chairman of the group and the second not named Tata after Sir Nowroji Saklatvala.
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).
Personal background
Cyrus Mistry is the youngest son of Pallonji MistryPallonji Mistry
Pallonji Shapoorji Mistry is an Irish-Parsi construction tycoon. According to Forbes, his wealth is estimated to be US$8.8 billion as of 2011. He is the richest person of Parsi descent followed by Adi Godrej at US$7.3 Billion . With his 18.5% stake in Tata Sons, he is the single largest...
, 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. He has an elder brother Shapoor and two sisters: Laila and Aloo. His sister, Aloo, is married to Noel Tata
Noel Tata
Noel Tata an Indian businessman, who is the Chairman of Trent Ltd.Noel Tata is the son of Naval Tata and Simone Tata. He is married to Aloo Mistry, the daughter of Pallonji Mistry, who is the largest single shareholder in Tata Sons...
, the half-brother of Ratan Tata
Ratan Tata
Ratan Naval Tata is the present chairman of Tata Sons and therefore, Tata Group. Also, he is one among the few in the world...
.
Mistry is married to Rohiqa Chagla, the daughter of lawyer Iqbal Chagla. Together, Mistry and his wife have two sons.
Educational background
Mistry studied at the Cathedral & John Connon School in MumbaiMumbai
Mumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million...
. He graduated from the Imperial College, London with a BE in civil engineering
Civil engineering
Civil engineering is a professional engineering discipline that deals with the design, construction, and maintenance of the physical and naturally built environment, including works like roads, bridges, canals, dams, and buildings...
and holds a master of science in management from the London Business School
London Business School
London Business School is an international business school and a constituent college of the federal University of London, located in central London, beside Regent's Park...
. He is a fellow of the Institution of Civil Engineers
Institution of Civil Engineers
Founded on 2 January 1818, the Institution of Civil Engineers is an independent professional association, based in central London, representing civil engineering. Like its early membership, the majority of its current members are British engineers, but it also has members in more than 150...
.
Professional background
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.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
Breach Candy Hospital
-History:It was established in 1958 at Breach Candy suburb, and designed by an English architect Claude Batley. Many famous Bollywood stars have given birth to their children at this hospital, including Bollywood actress Karishma Kapoor who gave birth to son Kiaan Raj Kapoor in 2010 and actress...
Trust, Mumbai. He is also on the board of Imperial College India Foundation.
Tata Group
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. Tata Sons is the promoter of all key Tata companies and holds the bulk of shareholding in these companies. The chairman of Tata Sons has traditionally been the chairman of the Tata group. Various candidates, including Tata's half-brother and son-in-law of Pallonji Mistry, Noel Tata and PepsiCo Chairperson Indra NooyiIndra Nooyi
Indra Krishnamurthy Nooyi is an Indian-born American business executive. She is the current Chairman and Chief Executive Officer of PepsiCo, the second largest food & beverage business in the world ....
were speculated to succeed Ratan Tata.
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.
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. In 1932, Sir Nowroji Saklatwala
Nowroji Saklatwala
Nowroji Saklatwala was the only non-Tata chairman of the Tata group from 1932 till his sudden death due to heart attack. He was also a cricket player and represented the Parsees against the Europeans in 1904.-References:...
headed the group as its third chairman till his death in 1938. Sir Nowroji was succeeded by JRD Tata, who headed the group for 53 years before handing over the baton to Ratan Tata in 1991. Sir Nowroji was the nephew of Tata Group chairman Jamsetji Nusserwanji Tata and could assert himself as chairman, due to his family connections. JRD Tata was not a direct descendant of Jamsetji Nusserwanji Tata either. He was also related to the Tata Group founder through his grandfather, Ratanji Dadabhoy Tata. 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.
External links
- Profile at Tata SonsTata SonsTata Sons is a promoter of the key companies of the Tata Group and holds the bulk of shareholding in these companies. It was established as a trading enterprise by Group founder Jamsetji Tata in 1868...
- Profile at BBC NewsBBC NewsBBC News is the department of the British Broadcasting Corporation responsible for the gathering and broadcasting of news and current affairs. The department is the world's largest broadcast news organisation and generates about 120 hours of radio and television output each day, as well as online...