Cyrus Mistry profile: Former chairman of Tata Sons Cyrus Mistry died on Sunday after the car he was travelling in met with an accident around 135km from Mumbai. Here's a look at his early life and career.
Former chairman of Tata Sons Cyrus Mistry died on Sunday after his car met with an accident around 135km away from Mumbai. The accident occurred near the Surya river in Palghar's Charoti area around 3pm. Mistry was reportedly travelling from Ahmedabad to Mumbai when his Mercedes crashed. He was 54.
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Came from one of Ireland's richest families
Mistry's father Pallonji Mistry was one of Ireland's richest people. He was a permanent resident of India and had acquired Overseas Citizenship of India.
Cyrus was born to Pallonji Mistry and Patsy Perin Dubash on July 4, 1968, in Dublin. Cyrus had three siblings, elder brother Shapoor and sisters Liala and Aloo.
Born in riches, young Cyrus attended the Cathedral and John Connon School of South Mumbai. After finishing schooling, Cyrus attended Imperial College in London and in 1990, he earned a bachelor's degree in Civil Engineering from the University of London. Soon after finishing his Bachelor of Engineering, Cyrus joined the family construction company, Shapoorji Pallonji & Co. and was made the director of the company. In 1996, Cyrus finished his International Executive Masters in Management from the University of London.
Career in Tata Sons
After entering his family business in 1991, Cyrus took his father's place on the board of Tata Sons in 2006. Pallonji Mistry was the single largest shareholder of Tata Sons. Mistry's grandfather, Shapoorji Mistry, had first acquired a stake in Tata Sons in the 1930s.
Cyrus was appointed as the Deputy Chairman of Tata Sons in November 2011 and was appointed as the sixth Chairman of the group in 2012, succeeding Ratan Tata.
When he was elevated to the position of chairman of the conglomerate, he became only the second person on the post after Nowroji Saklatwala to not bear the surname 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. This started a legal battle between the two parties.
In July 2018, the National Company Law Tribunal (NCLT) charged Mistry with mismanagement and issued a verdict in favour of Tata Sons. Mistry then challenged the verdict.
In December 2019, the National Company Law Appellate Tribunal (NCLAT) reinstated Mistry as the Chairperson for Tata Sons. A month later, Tata Sons challenged the NCLAT's decision in the Supreme Court of India. But Mistry had announced that he will not return to the Chairmanship of the conglomerate and is instead interested in reserving his seat on the company's board.
Mistry is survived by his wife Rohiqa Chagla and two sons, Firoz Mistry and Zahan Mistry.
Also Read: Cyrus Mistry killed in car crash: PM Modi, Gadkari, Anand Mahindra, others offer condolences
First Published: Sept 4, 2022 6:39 PM IST