|Born||4 July 1966|
South Mumbai, India
|Alma mater||Cathedral & John Connon School |
Imperial College London
London Business School
|Occupation||Former chairman of Tata Group|
Patsy Perin Dubash
|Relatives||Noel Tata (brother-in-law)|
Cyrus Pallonji Mistry (born 4 July 1966) is an Irish businessman of Indian origin who was the chairman of Tata Group, an Indian business conglomerate, between 2012 and 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 the same year. On 24 October 2016, the board of (Tata Group's holding company, Tata Sons, voted to remove Mistry from the post of chairman; former chairman Ratan Tata then returned as interim chairman, and Natarajan Chandrasekaran was named as the new chair a few months later. He owns an 18.4% stake in Tata Sons, through his firm, Cyrus Investments Pvt. Ltd.
Mistry was born to a Parsi family in Bombay (now Mumbai), the younger son of Indian billionaire and construction magnate Pallonji Mistry by his wife Patsy Perin Dubash. Both his parents belong to the Zoroastrian faith and have roots in India. However, Mistry's mother was born in Ireland, and his father chose to take up Irish citizenship. Mistry has an elder brother, Shapoor Mistry, who is also an Irish citizen, and is married to Behroze Sethna, the daughter of Parsi lawyer Rusi Sethna. Mistry also has two sisters, Laila and Aloo. Laila is married to Rustom Jehangir, a London-based portfolio fund manager. Aloo is married to Noel Tata, the half-brother of Ratan Tata.
The Pallonji family have been active in business for over a century, and it was in the 1930s that Mistry's grandfather, Shapoorji Mistry, first acquired a stake in Tata Sons. The stake, which now stand at 18.5%, is presently held by Mistry's father, and comprises the largest block of shares held by a single party; some 66% stake in Tata Sons is controlled by charitable trusts set up by the family. Mistry thus grew up in affluent circumstances. He studied at the prestigious Cathedral & John Connon School in South Mumbai, and then moved to London to study at Imperial College for a B.Sc. degree in civil engineering. He then went on to take an M.Sc. in management from the London Business School.
Mistry joined the board of Tata Sons on 1 September 2006, a year after his father retired from it. He served as a Director of Tata Elxsi Limited, from 24 September 1990 to 26 October 2009 and was a Director of Tata Power Co. Ltd until 18 September 2006.
In 2012, Mistry was appointed as the chairman of Tata Sons. In addition, he was also chairman of all major Tata companies including Tata Industries, Tata Steel, Tata Motors, Tata Consultancy Services, Tata Power, Tata Teleservices, Indian Hotels, Tata Global Beverages and Tata Chemicals.
2018 NCLT verdict
In July 2018, the National Company Law Tribunal (NCLT), which "adjudicates issues relating to Indian companies," issued a verdict in favor of Tata Sons on charges of mismanagement leveled by Mistry in 2016, two months following his ousting as chairman, through a vote of non-confidence. On 10 July, Mistry stated that he would appeal the decision.
Mistry is an Irish citizen, and a permanent resident of India (having most probably acquired Overseas Citizenship of India). According to a news report in an Irish newspaper, The Independent, Mistry views himself as a global citizen.
- Zachariah, Reeba; Singh, Namrata (24 Nov 2011). "Cyrus Mistry: Avid golfer and foodie, avoids cocktail circuit". Times of India. Retrieved 24 February 2012.
- "My wife does not hesitate to disagree with me: Tata Group's Cyrus Mistry". Masoom Gupte. The Economic Times. 24 October 2016. Retrieved 28 January 2018.
- "Cyrus P Mistry to take over from Ratan Tata as Chairman of Tata Group in December 2012". Economic Times. 23 November 2011. Retrieved 24 November 2011.
- "Cyrus Mistry takes over the position of chairman for Tata Sons in December 2012". 26 November 2011.
- "Cyrus Mistry, a Tata in all but name". Reuters. CNBC-TV18. 23 Nov 2011. Retrieved 24 November 2011.
- "N Chandrasekaran, CEO and MD of Tata Consultancy Services, is new Chairman of Tata Sons - Times of India". The Times of India. Retrieved 2017-01-17.
- "Cyrus Investments seeks representation on Tata Sons board". Live Mint. 1 November 2018. Retrieved 1 November 2018.
- "www.independent.ie/business/world/cyrus-mistry-and-the-mammy-factor-at-the-heart-of-tata-30728963.html". Retrieved 15 June 2015.
- Munroe, Tony (23 Nov 2011). "Global search for Tata chairman ends close to home". Reuters. Retrieved 24 November 2011.
- Agarwal, Vibhuti (23 November 2011). "Who is Cyrus Mistry?". Wall Street Journal. Retrieved 24 November 2011.
- "Who is Cyrus Mistry?". IBN Live. 23 November 2011. Retrieved 24 November 2011.
- "Who is Cyrus Mistry?". NDTV. 23 November 2011. Retrieved 24 November 2011.
- "Cyrus P Mistry: Tata Sons' deputy chairman a reticent man with strategic vision, humility". Economic Times. 24 November 2011. Retrieved 24 November 2011.
- The Economist "Britain and India: The Odd Couple", The Economist, September 28, 2013. Retrieved March 12, 2018.
- "Tata Sons Board replaces Mr. Cyrus P. Mistry as Chairman, Selection Committee set up for new Chairman". 24 October 2016. Retrieved 24 October 2016.
- "Ratan Tata to replace Cyrus Mistry as Tata Sons chairman - The Economic Times". The Economic Times. Retrieved 2016-10-24.
- Ninan, Oommen a (2017-06-04). "Conflict of interest led to Cyrus Mistry removal: Ratan Tata". The Hindu. ISSN 0971-751X. Retrieved 2017-11-18.
- "National Company Law Tribunal constituted - new perspectives for dispute resolution". Khaitan & Co. Retrieved 13 June 2016.
- "Ratan Tata welcomes NCLT verdict". The Economic Times. 9 July 2018. Retrieved 12 June 2018.
- "Tata welcomes NCLT verdict but Cyrus Mistry says he will challenge ruling". The Economic Times. 9 July 2018. Retrieved 12 June 2018.