Cyrus P. Mistry is a descendant of the Shapoorji Pallonji Group, who remained at the head of the giant Tata group as chairman of the holding company Tata Sons for four years before being abruptly removed in 2016. died in a car accident on sunday,
54-year-old Mistry is survived by his wife Rohika and two sons.
Mistry, the youngest son of the late construction tycoon Pallonji Mistry, was chosen by Ratan Tata as his successor and took charge of the Tata Group in 2012, upon Mr Tata’s retirement.
A civil engineering graduate from Imperial College, London, with a Master of Science in Management from London Business School, Mistry was only the second non-Tata to lead the group. The relatively young and soft-spoken Mistry soon began to alter the governance structure of the group companies in an apparent effort to foster fresh dynamism.
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Among his achievements at the helm of the Tata Group, he is credited with overseeing the turnaround of Tata Motors, which has now emerged as a significant player in the passenger car industry.
A supporter of exiting all loss-making ventures, Mistry formed a group executive council tasked with formulating a strategy for the group. However, some of his decisions seem controversial and upset Tata, and barely four years into his tenure, Mistry was abruptly ousted from the board room in 2016.
After a long and long-winded litigation, it finally came to an end in May, when the Supreme Court rejected the Shapoorji Pallonji Group’s demand for a review of the 2021 verdict, which ousted Mistry as the Tata Group’s executive chairman. decision was upheld. sons.
Most recently, Mistry oversaw venture capital firm Mistry Ventures LLP, which he helped set up in 2018.
Prime Minister Narendra Modi condoled Mistry’s death on Twitter. “The untimely demise of Mr. Cyrus Mistry is shocking. He was a promising business leader who believed in the economic power of India. His death is a great loss to the commerce and industry. Condolences to his family and friends. May his soul rest in peace,” Mr Modi tweeted.
Tata Sons Chairman N. “I am deeply saddened by the sudden and untimely passing of Mr. Cyrus Mistry. He had a passion for life, and it is indeed sad that he passed away at such a young age,” Chandrasekaran said in a statement. Age. My deepest condolences and prayers to his family at this difficult time.”