Cyrus Mistry (1968–2022) was an Indian-born Irish businessman and scion of the Shapoorji Pallonji Group. He served as the Chairman of the Tata Group, an Indian multinational conglomerate headquartered in Mumbai, from 2012 to 2016. Cyrus died in a fatal car accident near Mumbai on 4 September 2022.
Contents
Wiki/Biography
Cyrus Pallonji Mistry was born on Thursday, 4 July 1968 (age 54 years; as in 2022) in Bombay (now Mumbai), Maharashtra. His zodiac sign is Cancer. He did his schooling from Cathedral and John Connon School, Fort, Mumbai, Maharashtra. Cyrus earned a bachelor’s degree in civil engineering from Imperial College, University of London in 1990. Subsequently, he obtained an International Executive Master in Management from the London Business School, University of London (1996). He was a Fellow of the Institution of Civil Engineers.
Physical Appearance
Height (Approx): 5′ 9″
Hair Color: Black
Eye colour: black
Family
He belonged to a Parsi family. Both his parents followed Zoroastrianism. Since his mother was a citizen of Ireland, his father also decided to take Irish citizenship.
parents and siblings
Cyrus Mistry was the younger son of construction businessman Pallonji Shapoorji Mistry. His father died on 28 June 2022 at the age of 93. His mother, Patsy Perrin Dubash, was born in Ireland. Patsy was of Indian origin. His elder brother, Shapoor Mistry, is a businessman (involved in real estate and textile business). Shapoor is also an Irish citizen. Shapoor is married to Behroze Sethna, daughter of Parsi lawyer Rusi Sethna. He had two elder sisters, Laila Mistry and Aloo Mistry. Laila is married to Rustam Jahangir, a London-based portfolio fund manager, and Aloo is married to Noel Tata, Ratan Tata’s half-brother.
Cyrus Mistry with his parents and siblings
wife and children
On 2 January 1992, Cyrus Mistry married Rohika Mistry, the daughter of Iqbal Chagla, a prominent Indian lawyer, and granddaughter of the popular Indian jurist, diplomat and cabinet minister Mohammed Ali Carim Chagla (popularly known as MC Chagla). Are. He had two sons with Rohika, Zahan Mistry and Firoz Mistry.
Cyrus Mistry with his wife
Cyrus Mistry with his wife and children
Religion
Cyrus Mistry followed Zoroastrian religion. According to the letter written by the Shapoorji Pallonji Group after Mistry’s death, he followed Parsi principles of religiosity. read the letter,
Cyrus Mistry was deeply committed to the Zoroastrian principles of righteousness, honesty and ethical behavior with all. He was known for transparency and integrity in all his business dealings.”
livelihood
Cyrus Mistry started his corporate career in 1991 by joining his family construction company Shapoorji Pallonji & Company Limited as a director. Cyrus was appointed as the managing director of Shapoorji Pallonji Group in 1994. In September 2006, Cyrus joined the board of Tata Sons (a year after his father, Pallonji Mistry, retired from the company), in which his family held an 18.5 percent stake. company; His grandfather first bought shares in Tata Sons in the 1930s. Prior to this, he held non-executive positions on the boards of several other Tata companies such as Tata Elxsi Limited and Tata Power Company Limited. In November 2011, he resigned from Shapoorji Pallonji & Company after being appointed as the Vice Chairman of the Tata Group. , He worked under the guidance of Indian industrialist Ratan Tata for about a year.
Cyrus Mistry with Ratan Tata during a business meeting
A year later, upon the retirement of Ratan Tata, who had been leading the Tata Group since 1991, Cyrus was appointed as the group’s chairman. Apparently, he was initially reluctant to take the job, but after some persuasion from Ratan Tata, he agreed to take the position. Apart from this, he also led all the major businesses of the Tata Group such as Tata Motors, Tata Steel, Tata Consultancy Services, Tata Teleservices, Tata Power, Tata Global Beverages and Tata Chemicals.
Cyrus Mistry addressing the board members
On October 24, 2016, the board of Tata Sons voted to remove Cyrus as chairman after offering him the opportunity to voluntarily resign from his position. Upon his departure, Ratan Tata took over as the interim chairman of the group for a few months and later, the position was taken over by Natarajan Chandrasekaran. After his dismissal from Tata Sons, Cyrus returned to his family business and under his guidance, his construction business performed very well. The company which was earlier dealing only with the construction part, started executing projects under design and build and EPC delivery methods, implementing complex projects in the marine, oil & gas and rail sectors. The company also initiated major road projects. The company also ventured into agriculture and biofuels.
Legal battle- Mistry vs Tata Group
After Mistry was removed in a boardroom coup in October 2016, his relationship with the Tata Group and its patron Ratan Tata began to deteriorate. In December 2016, Mistry dragged Tata Sons along with his family-backed firms Cyrus Investments Pvt Ltd and Sterling Investments Corporation Pvt Ltd to the National Company Law Appellate Tribunal (NCLAT). He accused Tata Sons of harassment and mismanagement and claimed that his work had been appreciated only a few months ago. He also asked the group about the reasons due to which he was suddenly removed from the post of president. In July 2018, the National Company Law Tribunal (NCLT) ruled in favor of Tata Sons. In December 2019, the National Company Law Appellate Tribunal (NCLAT) overturned the NCLT decision and held that Cyrus’s dismissal as chairman of Tata Sons was illegal. He reinstated Cyrus as chairperson of Tata Sons for the remainder of his term.
Cyrus Mistry outside the court
In January 2020, Ratan Tata and Tata Sons challenged the National Company Law Appellate Tribunal’s decision in the Supreme Court and the court stayed the NCLAT decision to reinstate Cyrus as Tata Sons chairman. Subsequently, Cyrus Mistry filed a cross-appeal in the Supreme Court, seeking more relief from the tribunal. Later, the Supreme Court barred Shapoorji Pallonji Group from pledging its shares in Tata Sons to raise funds. During the last court hearing in March 2021, the Supreme Court ruled that the removal of Cyrus Mistry as ‘Chairman’ of Tata Sons was legal.
Death
On 4 September 2022, Cyrus Mistry died in a car accident while he was traveling from Udvada in Gujarat to Mumbai in his Mercedes GLC Sports along with three others. Apparently, his car was speeding and when the driver tried to overtake another vehicle from the wrong side, he lost control of the car and the car collided with the road divider on the bridge over Surya river at Charoti Naka . Apparently, Cyrus was sitting in the back seat and was not wearing a seat belt. The accident happened around 2.30 pm. Cyrus’s autopsy report revealed that he had suffered a head injury, which resulted in hemorrhage, and severe chest injury.
Cyrus Mistry’s car before and after the accident
Condoling his untimely demise, Prime Minister Narendra Modi wrote on social media,
The untimely demise of Shri Cyrus Mistry is shocking. He was a promising business leader who believed in India’s economic power.
Later, Shapoorji Pallonji Group wrote a heartfelt condolence letter on LinkedIn addressed to Mistry’s family. In the letter, the group described him as a visionary businessman and a low-profile person. Read it,
CPM, as he was affectionately known, was an avid reader, committed to a lifelong learning journey across many subjects. Despite his success, he always kept a low profile, away from the limelight. Cyrus Mistry was deeply committed to the Zoroastrian principles of righteousness, honesty and ethical behavior with all. He was known for transparency and integrity in all his business dealings. He was extremely humble, accessible to all and always helped the less fortunate.
car collection
He had a huge car collection which included Mercedes-Benz GLC 220d 4Matic, Honda CR-V, Jaguar XF, Tata Safari Storme and Tata Ariya.
net worth
According to some media reports, Cyrus Mistry’s net worth in the year 2018 was Rs 2.5 crore. 70,957 crores.
expensive items/valuable items
- The 80-meter superyacht Tatiana costs $100 million
- Luxurious homes in London, Dubai, Ireland and Mumbai.
- Access to Tata Group’s private jets for personal and business trips till 2020
Favorite
- Cuisine: Parsi, Maharashtrian
- Food: Thecha, Shrimp Curry
- Vacation destination: Europe
Facts/General Knowledge
- Cyrus Mistry enjoyed reading and playing golf in his spare time. He shared his family’s love of horses.
- Cyrus, a foodie, loved to taste different cuisines.
- He followed a non-vegetarian diet.
- In an interview, some of his close friends described him as a soft-spoken, articulate and down to earth person.
- He had an immense love for luxury cars, especially SUVs.
- His family and friends fondly called him CPM.
- Cyrus had acquired Indian overseas citizenship and was a permanent resident of India. He saw himself as a global citizen.
- In 2012, Cyrus became the sixth chairman of Tata Group. He was the second chairman of the group whose surname was not Tata, the first being Naoroji Saklatwala.
- In an article published by The Economist in 2013, he was named ‘the most important industrialist in both India and Britain’.
- In an interview, NCP leader Supriya Sule described Cyrus as her twin and said,
We were like twins because we had many of the same habits. We always talked on the phone while eating. This habit troubled his wife Rohika, who said that eating and talking at the same time was rude. He liked to just go to Pune and eat simple food. He was as comfortable in Matheran and Mahabaleshwar as he was in Switzerland and Paris.”
He further shared Mistry’s childhood habits and said,
She hated being photographed, flashlights, and attention of any kind. He was always punctual and gave importance to time and people. He had all the good qualities of leadership and management. He read a lot of books, was very respectful and soft-spoken.”
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Categories: Biography
Source: vcmp.edu.vn