Cyrus Mistry to Formally Take Charge of Tata Group
TNI Bureau: Cyrus Mistry, the new chairman of the Tata Group, will formally take charge of his office today.
Mr. Mistry, who was appointed as chairman to succeed Ratan Tata, is the sixth chairman of the Tata empire.
Mr. Mistry, who has been with the group since 2006 in various capacities hails from the Shapoorji Pallonji family, which is the largest private shareholder of the group’s holding company Tata Sons.
Born on July 4, 1968, Cyrus Mistry completed his graduation in Civil Engineering from London’s Imperial College of Science, Technology and Medicine and followed it up with a masters in Management from the London Business School.
Mr. Mistry was chosen by a 5-member panel last year to succeed Ratan Tata.
Ratan Tata retired as chairman of Tata Group after a 50-year run on Friday.
Ratan Tata, who helmed the group for 21 years after being chosen successor by his uncle, the iconic JRD Tata, in 1991, is credited with transforming the group through bold decisions including large global acquisitions, even as some of its peers struggled to stay relevant post economic liberalization.
During Ratan Tata’s tenure, the group’s revenues grew manifold, totalling USD 100.09 billion (around Rs 475,721 crore) in 2011-12 from a turnover of a mere Rs 10,000 crore in 1991.
The Tata Group was founded as a private trading firm in 1868 by entrepreneur and philanthropist Jamsetji Nusserwanji Tata.