The long wait is over now. After 18 meetings of selection committee to choose the next chairman of India's industrial pillar Tata Sons, the official announcement is made in-front of media and public. The next legend in Indian industrial history
Ratan Tata announced his successor as Cyrus P Mistry.
“I will be committed to working with him over the next year to give him the exposure, the involvement and the operating experience to equip him to undertake the full responsibility of the Group on my retirement,” Tata said.
Mr. Mistry said he was deeply honoured by this appointment. “I am aware that an enormous responsibility, with a great legacy, has been entrusted to me,” he said in a statement.
He announced that he will legally dissociate himself from the management of his family businesses to avoid any issue of conflict of interest. Shapoorji Pallonji Mistry, father of the new deputy chairman of Tata Sons, owns 18 per cent in Tata Sons. The Shapoorji Pallonji Group is into construction, textile, water treatment and other businesses. Cyrus Mistry is currently the managing director of the $ 2 bn SP Group.
Executive Profile of Cyrus P Mistry : Shri. Cyrus Pallonji Mistry serves as Senior Vice President of Production of DQ Entertainment Plc. Mr. Mistry serves as Senior Vice President of Business Development and Technology at DQ Entertainment (International) Limited. He serves as Chairman of the Board of Shapoorji Pallonji Group and Afcons Infrastructure Limited. He has over 22 years of experience in the Indian entertainment industry in the fields of filmmaking and animation, technical and production pipeline management. Mr. Mistry serves as a Director Tata Sons Limited. He has been a Non-executive Director of Forbes & Company Ltd. (alternate name: Forbes Gokak Ltd.) since June 23, 2003. He was associated with Convergence Media Private Limited India, as Senior Vice President - Operations and Planning and UTV Toons India. Mr. Mistry serves as Director of following companies: Forvol International Services Ltd., Shapoorji Pallonji & Co. Ltd., Cyrus Investments Ltd. Shapoorji Pallonji Power Co. Ltd., Buildbazaar Technologies (India) Pvt. Ltd., Sterling Investment Corporation Pvt. Ltd., Samalpatti Power Co. Pvt. Ltd., Shapoorji Pallonji & Co. (Rajkot) Pvt. Ltd., Shapoorji Pallonji Finance Ltd., Shapoorji Pallonji Infrastructure Capital Co. Ltd., Oman Shapoorji Construction Co. Ltd., and Muscat Pallonji Shapoorji & Co. Pvt. Ltd. He served as a Director of Tata Elxsi Limited, from September 24, 1990 to October 26, 2009. Mr. Mistry served as a Director of Tata Power Co. Ltd. until September 18, 2006 and of United Motors(India) until November 26, 2009. He served as Director of Gokak Textiles Ltd. until July 7, 2008. He is Fellow of the Institute of Civil Engineers. Mr. Mistry holds B.E.(Civil Engineering) from Imperial College, London and Master of Science in Management from London Business School. He holds a Bachelor of Commerce from Mumbai University. He is also on the board of the Construction Federation of India, the Imperial College Advisory Board, the board of governors of the National Institute of Construction Management and Research (NICMAR).
Let the next lion rule. Wish him all success.