Cyrus Pallonji Mistry

Cyrus Mistry
Born (1966-07-04) 4 July 1966
Residence Malabar Hill
South Mumbai
Nationality Irish Indian[1]
Citizenship Ireland
Alma mater Cathedral & John Connon School
Imperial College London
London Business School
Occupation Former Chairman of Tata Group
Religion Zoroastrian
Spouse(s) Rohiqa
Children 2
Parent(s) Pallonji Mistry
Patsy Perin Dubash

Cyrus Pallonji Mistry (born 4 July 1966) is an Irish businessman of Indian origin who was the chairman of Tata Group, an Indian business conglomerate, between 2012 and 2016.[2][3] He was the sixth chairman of the group, and only the second (after Nowroji Saklatwala) to not bear the surname Tata.[4] In mid-2012, he was chosen by a selection panel to head the Tata group and took charge in December the same year. On 24 October, 2016, the board of Tata Sons (the group's holding company) voted to remove Mistry from the post of chairman. Former chairman Ratan Tata was named interim chairman, and a selection panel has been appointed to determine a successor.[5]

Background and family

Mistry was born to a Parsi family in Mumbai, the younger son of Indian billionaire and construction magnate Pallonji Mistry by his wife Patsy Perin Dubash.[6][7] Both his parents belong to the Zoroastrian faith and have roots in India. However, Mistry's mother was born in Ireland, and his father chose to take up Irish citizenship. Mistry has an elder brother, Shapoor Mistry, who is also an Irish citizen, and is married to Behroze Sethna, the daughter of Parsi lawyer Rusi Sethna. Mistry also has two sisters, Laila and Aloo. Laila is married to Rustom Jehangir, a London-based portfolio fund manager.[8][9][10] Aloo is married to Noel Tata, the half-brother of Ratan Tata. Mistry is married to Rohiqa Chagla, daughter of lawyer Iqbal Chagla and granddaughter of renowned jurist M.C. Chagla. The couple has two sons, Firoz Mistry and Zahan Mistry.[1]

Mistry is an Irish citizen, and a permanent resident of India. According to a news report in an Irish newspaper, The Independent, Mistry views himself as a global citizen.[6]

The Pallonji family have been active in business for over a century, and it was in the 1930s that Mistry's grandfather, Shapoorji Mistry, first acquired a stake in Tata Sons. The stake, which now stand at 18.5%, is presently held by Mistry's father, and comprises the largest block of shares held by a single party;[4] some 66% stake in Tata Sons is controlled by charitable trusts set up by the family. Mistry thus grew up in affluent circumstances. He studied at the prestigious Cathedral & John Connon School in South Mumbai,[11] and then moved to London to study at Imperial College for a B.Sc. degree in civil engineering. He then went on to take an M.Sc. in management from the London Business School.[8][9]

Career

Mistry has been managing director of Shapoorji Pallonji & Company, which is part of the Shapoorji Pallonji Group. He joined the board of Tata Sons on 1 September 2006, a year after his father retired from it.[1] He served as a Director of Tata Elxsi Limited, from 24 September 1990 to 26 October 2009 and was a Director of Tata Power Co. Ltd until 18 September 2006.

In 2012, Mistry was appointed as the chairman of Tata Sons. In addition, he was also chairman of all major Tata companies including Tata Industries, Tata Steel, Tata Motors, Tata Consultancy Services, Tata Power , Tata Teleservices, Indian Hotels, Tata Global Beverages and Tata Chemicals.

In an 2013 article, The Economist categorized him as "the most important industrialist in both" India & Britain.[12]

The Tata Sons Board voted to remove Mistry from the Chairmanship of Tata Sons on 24 October, 2016.[5][13]

References

  1. 1 2 3 Zachariah, Reeba; Singh, Namrata (24 Nov 2011). "Cyrus Mistry: Avid golfer and foodie, avoids cocktail circuit". Times of India. Retrieved 24 February 2012.
  2. ↑ "Cyrus P Mistry to take over from Ratan Tata as Chairman of Tata Group in December 2012". Economic Times. 23 November 2011. Retrieved 24 November 2011.
  3. ↑ "Cyrus Mistry takes over the position of chairman for Tata Sons in December 2012". 26 November 2011.
  4. 1 2 "Cyrus Mistry, a Tata in all but name". Reuters. CNBC-TV18. 23 Nov 2011. Retrieved 24 November 2011.
  5. 1 2 "Tata Sons Board replaces Mr. Cyrus P. Mistry as Chairman, Selection Committee set up for new Chairman". 24 October 2016. Retrieved 24 October 2016.
  6. 1 2 "http://www.independent.ie/business/world/cyrus-mistry-and-the-mammy-factor-at-the-heart-of-tata-30728963.html". Retrieved 15 June 2015. External link in |title= (help)
  7. ↑ Munroe, Tony (23 Nov 2011). "Global search for Tata chairman ends close to home". Reuters. Retrieved 24 November 2011.
  8. 1 2 Agarwal, Vibhuti (23 November 2011). "Who is Cyrus Mistry?". Wall Street Journal. Retrieved 24 November 2011.
  9. 1 2 "Who is Cyrus Mistry?". IBN Live. 23 November 2011. Retrieved 24 November 2011.
  10. ↑ "Who is Cyrus Mistry?". NDTV. 23 November 2011. Retrieved 24 November 2011.
  11. ↑ "Cyrus P Mistry: Tata Sons' deputy chairman a reticent man with strategic vision, humility". Economic Times. 24 November 2011. Retrieved 24 November 2011.
  12. ↑ http://www.economist.com/news/britain/21586829-two-countries-have-close-financial-ties-trade-between-them-feeble-odd-couple Britain and India: The odd couple
  13. ↑ "Ratan Tata to replace Cyrus Mistry as Tata Sons chairman - The Economic Times". The Economic Times. Retrieved 2016-10-24.

External links

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