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SPARK OF THE CORPORATE

I am aware that an enormous responsibility, with a great legacy, has been entrusted to me…

Cyrus Pallonji Mistry, 44, replaced Ratan Tata, who had step down, after turning 75. Mistry will be the sixth chairman of Tata Group in its 144-year history and only second who does not carry the "Tata" surname. His multi-talented business skill has seen him touching more than 15,000 crore turnovers in every organizations. He has remained low-key, media-shy and unassuming throughout his illustrious tenure. We take a look at some little known facts about the successor to the Tata throne.

 

Early Days

Cyrus Pallonji Mistry was born on 4th, July, 1968. He is the youngest son of Pallonji Mistry, an Irish-Parsi construction tycoon. Mistry's grandfather first bought shares in Tata Sons in the 1930s, a stake that, as of November 2011, stood at 18.5 percent, which is in the hands of Mistry's father, the largest single shareholder in a firm mostly controlled by trusts. Mistry considers himself to be of Irish nationality because although his father is Indian-born, his mother is Irish.

Early Career & Education

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.

In the beginning, he undertook simple jobs for the military and PWD, constructing barracks, small public holdings etc. Later he procured bigger contracts like construction of a small hospital as well as an ammunition factory. Under the Cyrus’ guidance, Shapoorji Pallonji’s construction business has grown from a turnover of USD 20 million to approximately USD 1.5 billion.

The Spark

Cyrus Mistry has been managing director of Shapoorji Pallonji & Company, which is part of the Rs 15,000-crore Shapoorji Pallonji Group (SP Group). He got the chance to join Tata Sons' board a year after his father retired as director in 2005 and has been serving in the capacity of a director of Tata Sons since September 1, 2006. 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. 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, but his chemistry with Ratan Tata, his understated style, strong operation experience combine with financial acumen and his Indian cum international outlook have favored him.

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. In 2012 Mistry was appointed as the chairman of the Board of Tata Sons. In addition to being Chairman of Tata Sons, Mr. Mistry is 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.

Family

Mistry is married to Rohiqa Chagla, the daughter of lawyer Iqbal Chagla and the granddaughter of renowned jurist M.C. Chagla. They have two sons.

Other Associations

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.
*He serves as Managing Director of Shapoorji Pallonji Group.
*He serves as Senior Vice President of Production at DQ Entertainment PLC.
*He Founded Shapoorji Pallonji & Co. Ltd. and served as its Managing Director.
*He served as Senior Vice President of Business Development and Technology at DQ Entertainment (International) Limited.
*He was associated with Convergence Media Private Limited India, as Senior Vice President of Operations and Planning and UTV Toons India.
*He has been Non Executive Chairman of The Indian Hotels Company Limited since December 31, 2012 and has been its Additional Director since November 20, 2012.
*He has been the Chairman of Tata Motors Limited since December 28, 2012.
*He has been the Chairman of Tata Sons Limited since December 28, 2012 and previously served as its Deputy Chairman from November 2011 to December 28, 2012.
*He has been the Chairman of the Board of Tata Global Beverages Limited since November 20, 2012.
*He serves as the Chairman of the Board of Shapoorji Pallonji Group.
*He serves as Chairman of Tata Teleservices Limited and Tata Industries Ltd.
*He has been Chairman of Tata Consultancy Services Limited since December 28, 2012.
*He has been the Chairman of the Board of Tata Chemicals Limited since December 28, 2012 and previously served as its Deputy Chairman from November 8, 2012 to December 28, 2012.
*He has been Chairman of The Tata Power Company Limited since November 8, 2012.
*He has been Additional Director of Tata Power Co. Ltd., since December 23, 2011 and Tata Chemicals Ltd. since May 30, 2012.
*He has been a Non-Executive Director at Tata Motors Ltd. since May 29, 2012.
*He also serves as a Director of 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 serves as the Director of Tata Industries Limited and Tata Teleservices Limited.
*He has been a Director of Tata Sons Limited since 2006.
*He has been Independent Non-Executive Director of Tata Steel Limited since May 21, 2012.
*He has been an Additional Director at Tata Consultancy Services Limited since April 2, 2012.
*He has been a Non Executive Director of Tata Global Beverages Limited since December 20, 2012.
*He serves as a Director of Shapoorji Pallonji & Co. Ltd. He has been a Director of Jaguar Land Rover Automotive plc since 2012.

Awards

Alumni Achievement Award by the London Business School
He is also on the board of Imperial College India Foundation
He is a Trustee of the Breach Candy Hospital Trust, Mumbai

Quotes

  I am aware that an enormous responsibility, with a great legacy, has been entrusted to me. I look forward to Mr Tata’s guidance in the year ahead in meeting the expectations of the group
  I take this responsibility very seriously and in keeping with the values and ethics of the Tata Group I will undertake to legally disassociate myself from the management of my family businesses to avoid any issue of conflict of interest

Hope viewers caught up the spark…

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