Cyrus Pallonji Mistry Biography
Cyrus Pallonji Mistry, popularly known as Cyrus Mistry is the newly appointed Deputy Chairman and Chairman Designate of the Tata Group and its holding company Tata Sons. Mistry, the youngest son of Irish construction magnate, Pallonji Mistry, will be the first non-Indian to head the Tata Group. Mistry will work with current chairman, Ratan Tata for one year and take over as chairman in December 2012 when Ratan Tata retires. Cyrus Mistry will be the sixth chairman of the group and the second non Tata after Sir Nowroji Saklatvala.
Cyrus Mistry is the youngest son of Irish-Parsi construction tycoon Pallonji Mistry. Cyrus is married to Rohiqua Chagla, the daughter of lawyer Iqbal Chagla and the couple have two school going sons.
Mistry studied at the Cathedral and John Connon School in Mumbai and graduated from Imperial College, London with a BE in Civil Engineering; he also holds a Master of Science in management from the London Business School. Cyrus Mistry is a fellow of the Institute of Civil Engineers.
Apart from the Tata Group, Cyrus Mistry is also the director on the board of several other companies, including Shapoorji Pallonji and Co, Forbes Gokak and United Motors (India) among others. Mistry is the director of Tata Sons since September 2006 and was the director of Tata Elxsi Ltd from September 1990 to October 2009. Cyrus Mistry also served as director of Tata Power Co until September 2006 and is currently the chairman of the board of Shapoorji Pallonji Group and Afcons Infrastructure Ltd.
In August 2009, the board of directors of the Tata Group got together to decide a suitable successor to Ratan Tata, who is due to retire in December 2012. Tata Sons is the promoter of all major Tata Companies and owns the major chunk of shareholdings in these companies. The chairman of Tata Sons has been the chairman of the Tata Group, a trend that has been followed over the past few years. Various candidates were scrutinized for this position, including Ratan Tata’s half brother Noel Tata and PepsiCo Chairperson Indra Nooyi.
On November 23rd 2011, Tata Sons announced that Cyrus P Mistry as the Deputy Chairman as per unanimous recommendation of all the board members, they also stated that he would work with Ratan Tata for one year and take over from him when Tata retires in December 2012. On his appointment, Mistry said that he has taken this responsibility very seriously and wishes to take forward the values and ethics of the Tata Group. He also said that he is deeply honoured at his appointment and looks forward to Ratan Tata’s guidance over the next year.