Cyrus Mistry was an Indian Irish businessman. He was the chairperson 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) do not bear the surname Tata.
Billionaire former chairman of Tata died at 54
Cyrus Mistry died on Sunday in a traffic accident while driving to Mumbai. One more person was murdered and two other passengers were injured, police in India’s western Maharastra state reported. Mr. Mistry, who was 54, was removed as Tata chairman in 2016, following criticism of his performance.
He was replaced by Ratan Tata – the man that Mr. Mistry had himself replaced just four years earlier. The boardroom coup was shrouded in secrecy and spawned a long-running legal struggle in which India’s top court eventually ruled in Tata’s favor.
The corporation operates in more than 100 countries – supplying items including salt, steel, and software – and generated a revenue of $130bn (£110bn) last year. Mr. Mistry and his pals were traveling in a Mercedes automobile through the Palghar area of Maharashtra when the accident happened on Sunday afternoon, authorities said. The vehicle is alleged to hit a divider on the road while crossing a bridge over a river, and Mr. Mistry subsequently died at the crash scene.
At least two others were sent to the hospital. In a tweet, Mr. Modi called Mr. Mistry a “promising business leader who believed in India’s economic prowess”. The deputy chief minister of Maharashtra state has ordered a police probe. The disaster called into focus the country’s high frequency of road accidents, with government figures revealing that they claimed 150,000 lives in 2021 – an average of 18 every hour.
Cyrus Mistry Age, Family, Early Life
Cyrus Mistry was born on 4 July 1968 in Bombay, Maharashtra, India. He holds Indian nationality and he belongs to the brown ethnicity. His Zodiac sign is Cancer.
Cyrus Mistry was born to a Parsi family in Bombay (now Mumbai), Maharashtra, the younger son of Indian industrialist and construction entrepreneur 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 elected 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-Indian-Parsi, half-French-Catholic half-brother of Ratan Tata.
Cyrus Mistry Career, What was his profession?
Cyrus Mistry joined the family construction company, Shapoorji Pallonji & Co. Ltd as a director in 1991. Mistry had been managing director of Shapoorji Pallonji & Company, which is part of the Shapoorji Pallonji Group, and also chairman of Tata Sons and the Tata Group. In a 2013 article, The Economist characterized him as “the most prominent industrialist in both India and Britain.”
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 2013, Mistry was appointed the chairman of Tata Sons. In addition, he was also chairman of all key Tata enterprises including Tata Industries, Tata Steel, Tata Motors, Tata Consultancy Services, Tata Power, Tata Teleservices, Indian Hotels, Tata Global Beverages, and Tata Chemicals.
The Tata Sons Board resolved to remove Mistry from the Chairmanship of Tata Sons on 24 October 2016. In July 2018, the National Company Law Tribunal (NCLT), which “adjudicates problems relating to Indian firms,” rendered a decision in favor of Tata Sons on claims of mismanagement filed by Mistry in 2016, two months following his removal as chairman, through a vote of non-confidence.
On 10 July, Mistry indicated that he would appeal the decision. In December 2019, the National Company Law Appellate Tribunal reinstated Mistry as the Chairperson for Tata Sons for his remaining tenure and declared that the nomination of TCS CEO Natarajan Chandrasekaran as executive chairman of Tata Sons was invalid.
In January 2020, Tata Sons appealed to the Supreme Court over NCLAT’s verdict. Cyrus Mistry indicated that he will not return to the Chairmanship of the conglomerate, but is interested in reserving his position on the company’s board. A three-judge panel comprising Chief Justice SA Bobde and Justices BR Gavai and Surya Kant stayed NCLAT’s ruling while hearing Tata Sons’ appeal on 10 January 2020.
The bench remarked, “We think there are lacunae in the judicial orders passed by the NCLAT.” The Supreme Court further directed that Tata Sons will not exercise power under Article 25 of the Business Law for driving out shares of minority investors in the company.
How much is Cyrus Mistry Net Worth?
Cyrus Mistry owned an 18.4% stake in Tata Sons, through his company, Cyrus Investments Pvt. Ltd. According to the Bloomberg Billionaires Index, Mistry had a net worth of about $29 billion at the time of his death, making him one of the richest individuals in India.
He was a member of the National Integration Council.
Cyrus Mistry Wife, What about his Children?
Cyrus Mistry was married to Rohiqa Chagla, the daughter of barrister Iqbal Chagla and granddaughter of jurist M.C. Chagla.
Iqbal Chagla has strategized the plan of action for Cyrus Mistry in the legal struggle against Tata Sons. The couple has two kids, Firoz Mistry and Zahan Mistry.
Which school and college did he go to?
Cyrus Mistry was educated at the famous Cathedral & John Connon School in South Mumbai. He studied at Imperial College London and was given a Bachelor of Engineering in civil engineering from the University of London in 1990.
He later studied at London Business School and was conferred International Executive Master in management from the University of London in 1996.
Is he available on any kind of social media platform?
Cyrus Mistry is not active on social media platforms such as Facebook, Instagram, or Twitter.
Physical Appearance of Cyrus Mistry’s Height, Weight
Interesting facts about Cyrus Mistry’s should be knows