43 years old Cyrus P. Mistry will be crowned chairman of Tata Sons when Ratan N Tata retires by next year end (December 2012) on reaching the age of 75. Tata is 143-year-old group with more than 100 companies in its portfolio spread across 80 countries, employing 425,000 people.
Who is Cyrus P Mistry?
Cyrus P. Mistry hails from Shapoorji Pallonji group and son of the single-largest shareholder (18%) in Tata Sons, Shapoorji Pallonji Mistry who is both the world’s wealthiest Parsi and the richest Irishman, according to Forbes magazine.
Shapoorji Pallonji Mistry heads the conglomerate which works in diversified interests including engineering, construction, real estate and textiles with turnover in excess of Rs 10,000 crore (approx $2 billion). India’s seventh richest.
The conglomerate, known as the SP group, employs around 23,000 people and has a geographical footprint spanning across Middle East and Africa besides India.
In 2011 Shapoorji Pallonji Mistry’s estimated net worth was around $8.8 billion (Rs 45,760 crore). Shapoorji Pallonji has two sons, Shapoor and Cyrus, and two daughters, Laila and Aloo, who is married to Noel Tata, the halfbrother of Ratan Tata.
Cyrus Mistry joined the Shapoorji Pallonji group as a director in 1991.