Cyrus Mistry, former chairman of Tata Sons, Road Accident

Former Chairman of Tata Sons Cyrus Mistry died in a car crash at around 3pm in Maharashtra’s Palghar area. A total of 4 people were there in the vehicle; two, including Cyrus Mistry, died: Palghar Police

Cyrus Mistry

Cyrus Mistry, in full Cyrus Pallonji Mistry, (born July 4, 1968), Indian businessman, scion of a wealthy business family in Mumbai, who served as chairman (2012–16) of the gigantic Tata Group conglomerate.

Cyrus Mistry was the younger son of Pallonji Mistry, head of the Shapoorji Pallonji Group, a diversified conglomerate that had begun with a construction company started by Pallonji Mistry’s grandfather in the 19th century. The Mistrys were members of Mumbai’s Parsi community, followers of the Zoroastrian religion who had grown prosperous as merchants and industrialists since the earliest colonial times. Cyrus attended the prestigious Cathedral and John Connon School in Mumbai before completing his higher education in England, where he acquired a civil engineering degree from Imperial College, London, and a master’s degree in management from the London Business School. In 1991 he entered the family business, becoming director of its flagship construction company, Shapoorji Pallonji & Co. Ltd. His brother, Shapoor, directed the group’s real-estate business, and their father continued as chairman of the board of directors. Pallonji Mistry also sat on the board of the Tata Group, another Mumbai-based conglomerate controlled by another prominent Parsi family, the Tatas.

During Cyrus Mistry’s two decades at the helm of Shapoorji Pallonji & Co., the company continued its expansion beyond traditional construction to large engineering projects, including the building of power plants and factories. The company also continued to grow overseas, undertaking more projects in the Middle East and Africa. In 2006 Pallonji Mistry retired from the board of the Tata Group, and the 38-year-old Cyrus Mistry took his place. Pallonji Mistry was the single largest shareholder of the conglomerate, and his son was named director of several Tata companies in addition to his duties with the Shapoorji Pallonji Group. In November 2011 Cyrus Mistry was made deputy chairman of the Tata Group, with the explicit goal of taking over as chairman one year later, upon the retirement of Ratan Tata, who had headed the group since 1991.

Also Read  JKSSB Panchayati Raj Recruitment 2022 – 1395 posts, [Apply Online]
Cyrus Mistry, former chairman of Tata Sons, Road Accident

Former chairman of Tata Sons

Cyrus Pallonji Mistry (4 July 1968 – 4 September 2022) was an Indian-born Irish businessman. He was the chairman of Tata Group, an Indian business conglomerate, from 2012 to 2016. He was the sixth chairman of the group, and only the second (after Nowroji Saklatwala) to not bear the surname Tata. In mid-2012, he was chosen by a selection panel to head the Tata Group and took charge in December that year. In October 2016, the board of Tata Group’s holding company, Tata Sons, voted to remove Mistry from the post of chairman after offering him an opportunity to resign voluntarily. Former chairman Ratan Tata then returned as interim chairman, and Natarajan Chandrasekaran was named as the new chairman a few months later. However, in December 2019, the National Company Law Appellate Tribunal (NCLAT) declared the appointment of Chandrasekaran as executive chairman illegal, and restored Mistry. However, the Supreme Court stayed NCLAT’s order on 10 January 2020. Mistry has filed a cross appeal in the court, seeking explanations for anomalies in the NCLAT. However the Supreme Court upheld his dismissal.

He owned an 18.4% stake in Tata Sons, through his company, Cyrus Investments Pvt. Ltd. In 2018, his net worth was approximately $10 billion. He was a member of the National Integration Council.

Cyrus Mistry Road Accident

  • Former Chairman of Tata Sons Cyrus Mistry died in a car crash at around 3pm in Maharashtra’s Palghar area. A total of 4 people were there in the vehicle; two, including Cyrus Mistry, died: Palghar Police
  • Cyrus Mistry, former Chairman of Tata Sons, while travelling from Ahmedabad to Mumbai, died in a road accident after his car hit a divider. 4 people were present in the car; 2 died on spot & 2 were moved to hospital: Palghar police officials
  • Maharashtra | Former Chairman of Tata Sons, Cyrus Mistry died in a car crash at around 3pm in the Palghar area today
  • A total of four people were travelling in the vehicle; two, including Cyrus Mistry, died, said police.
  • Cyrus Mistry, former Chairman of Tata Sons, while travelling from Ahmedabad to Mumbai, died in a road accident after his car hit a divider. 4 people were present in the car; 2 died on spot & 2 were moved to hospital: Palghar police officials

Leave a Comment

ગ્રુપમાં જોડાવા અહીં ક્લિક કરો