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Cyrus Mistry
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. 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. Natarajan Chandrasekaran was named the new chairman
shortly after.
Childhood &
Early Life
·
Mistry was born to a Parsi family in Bombay, the younger son of Indian billionaire and construction
magnate Pallonji Mistry by his wife Patsy Perin Dubash. 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. Aloo is married to Noel Tata, the half-brother of Ratan Tata.
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Career
·
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; 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, 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.
Major
Work
·
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. The Tata Sons Board voted to
remove Mistry from the Chairmanship of Tata Sons on 24 October, 2016.
Personal
Life & Legacy
· Mistry
is married to Rohiqa Chagla, daughter of lawyer Iqbal Chagla and granddaughter
of jurist M.C. Chagla.
The couple has two sons, Firoz Mistry and Zahan Mistry.
· Mistry
is an Irish citizen,
and a permanent resident of India (having most probably acquired Overseas Citizenship of India). According to a news
report in an Irish newspaper, The Independent, Mistry views himself
as a global citizen.
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