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    Shapoorji Pallonji Group on Cyrus Mistry: 'Kept himself away from limelight despite success'

    Shapoorji Pallonji Group on Cyrus Mistry: 'Kept himself away from limelight despite success'

    Shapoorji Pallonji Group on Cyrus Mistry: 'Kept himself away from limelight despite success'
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    By CNBCTV18.com  IST (Published)

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    Cyrus Mistry death: "His entrepreneurial mindset helped the Shapoorji Pallonji Group achieve many milestones over the past two decades," said the Shapoorji Pallonji (SP) Group in a statement.

    Cyrus Mistry, the younger son of late Pallonji Mistry, former chairman of the Shapoorji Pallonji (SP) Group, was killed in a tragic road accident near Mumbai on Sunday. He was 54.
    The accident took place around 3 pm yesterday over a bridge near Surya river in Palghar's Charoti area, around 135 km away from Mumbai. Mistry is survived by his wife Rohiqa Chagla and two sons, Firoz Mistry and Zahan Mistry.
    "His entrepreneurial mindset helped the Shapoorji Pallonji Group achieve many milestones over the past two decades, including one of India’s first integrated, project-financed power plants, and the development of India’s first biotechnology park. With his vision and eye for detail, he was instrumental in steering the Group from a pure contractor to a ‘value-added’ player, by developing competencies in allied areas such as EPC and ‘Design & Build’," said the Shapoorji Pallonji (SP) Group in a statement, expressing shock over the demise of former chairman of Tata Sons.
    Here's the full statement by Shapoorji Pallonji Group:
    It is with utmost sadness that we announce the sudden and untimely demise of our beloved Mr. Cyrus Pallonji Mistry. He succumbed to injuries from an unfortunate car accident on Sunday, 4th September 2022. He was 54 years old and is survived by his wife Rohiqa, sons Firoz and Zahan, mother Patsy Mistry, sisters Laila Rustom Jehangir and Aloo Noel Tata, and brother Shapoor Mistry.
     
    Cyrus Mistry was born on 4th July 1968. Armed with a civil engineering degree from London’s Imperial College of Science and Technology and a post-graduate degree of Master of Science in Management from London Business School, he joined the family business in March 1991 as a Director, overseeing the group’s construction business.
     
    His entrepreneurial mindset helped the Shapoorji Pallonji Group achieve many milestones over the past two decades, including one of India’s first integrated, project-financed power plants, and the development of India’s first biotechnology park. With his vision and eye for detail, he was instrumental in steering the Group from a pure contractor to a ‘value-added’ player, by developing competencies in allied areas such as EPC and ‘Design & Build’. He also envisioned, and oversaw, the evolution of the Group into an end-to-end business group, spanning design & engineering, construction and asset development.
     
    CPM, as he was fondly known, was a voracious reader, committed to a journey of lifelong learning across multiple disciplines. Despite his success, he always kept a low profile, away from the limelight.
     
    Cyrus Mistry was deeply committed to the Zoroastrian principles of righteousness, honesty, and ethical dealings with all. He was known for his transparency and integrity in all his business dealings. He was extremely humble, approachable to all, and always lent a helping hand to the less fortunate.
     
    Deeply loved by his family, he was a friend to countless many.
     
    We will all miss him.
     
    May his soul rest in eternal peace.
     
    “Humata, Hukhta, Huvarshta”  (Good Thoughts, Good Words, Good Deeds)
    Cyrus entered the family business in 1991 as the director of Shapoorji Pallonji Group. Under him, the SP Group expanded into large engineering projects, factories and power plants. He took his father's place on the board of Tata Sons in 2006. Pallonji Mistry was the single largest shareholder of Tata Sons.
    Cyrus was appointed as the Deputy Chairman of Tata in November 2011 and as the Chairman of Tata Sons in 2012, succeeding Ratan Tata. He served as Tata Sons Chairman till 2016 after which he was voted by Tata Sons to be removed from the post over a number of reasons including Mistry's handling of important issues such as the dispute with NTT DoCoMo and the clash of culture.
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