Tata Group names Cyrus Mistry as Ratan Tata's successor

[SHASH2K2]

Tata Sons, the holding company of over $80 billion conglomerate Tata Group, on Wednesday announced that Cyrus P Mistry, the 43-year-old managing director of Shapoorji Pallonji Group, will succeed Ratan Tata. "The Board of Directors of Tata Sons at its meeting today appointed Cyrus P mistry as the deputy chairman. He will work with Ratan N Tata over the next year and take over from him when Tata retires in December 2012," Tata Sons said in a statement.
This is as per the unanimous recommendation of the selection committee, it added.


Shapoorji Pallonji Group holds 18% stake in Tata Sons.


Commenting on the appointment, Ratan Tata, chairman of Tata Sons, said: "The appointment of Cyrus P Mistry as deputy chairman of Tata Sons is a good and far-sighted choice.


"He has been on the Board of Tata Sons since August 2006 and I have been impressed with the quality and calibre of his participation, his astute observations and his humility."


Tata further said: "I will be committed to working with him over the next year to give him the exposure, the involvement and the operating experience to equip him to undertake the full responsibility of the Group on my retirement."


Mistry has been a director of Tata Sons since August 2006. A graduate in civil engineering from Imperial College, London, he also holds a management degree from the London Business School.
Tata Group names Cyrus Mistry as Ratan Tata's successor - Hindustan Times

 

[venkat]

Its quite crucial for the TATA group and India as well to choose a worthy leader to propel the TATAs to greater heights.I personally like Mr .Ratan Tata very much, during his tenure the TATA group has reached new heights. Hope Mr.Cyrus Mistry maintains the TATA's legacy and propels TATA industries to greater heights.!!! Best of Luck to you sir!!!!

 

[Ray]

I thought Neville would take over since he is a Tata.

 

[venkat]

yes sir, the same was announced some time ago!!!!

 

[Yusuf]

One group (brand) that you always feel safe to be associated with. Mr Mistry has a very big responsibility to keep that trust in the brand going.

 

[Galaxy]

I thought Neville would take over since he is a Tata.

Cyrus Mistry owns 18% stake. May be that's why ? But i heard he is very capable person.

 

[LurkerBaba]

Is he a citizen of India or a citizen of Ireland ?

 

[Galaxy]

Is he a citizen of India or a citizen of Ireland ?

His father is Irish but not sure of his nationality. Although he lives in India only. India don't provide dual citizenship. Cyrus is married to Rohika Chagla the daughter of lawyer Iqbal Chagla who is Indian and living in Mumbai. Most likely, He is Indian.

 

[Ray]

Related to MC Chagla?

Any children?