Cyrus Pallonji Mistry was appointed as the chairman of Tata Sons, the firm that holds more than 100 billion dollar Tata Group, on 18 December 2012. Cyrus Pallonji Mistry would take on the role of chairman of Tata Sons with effect from 28 December 2012, after Rata Tata retires as the current Chairman of the company.
Ratan Tata who will also celebrate his 75th birthday on 28 December 2012 was conferred the honorary title of chairman emeritus. Tata Sons Board gave the title to Ratan Tata.
About Cyrus Pallonji Mistry
Cyrus Pallonji Mistry, 43, is billionaire Pallonji Shapoorji Mistry’s son. Cyrus Mistry has already remained the director of Tata Sons since 2006.
He was appointed as the deputy chairman of Tata Sons in November 2011.
Pallonji Mistry, along with the sons, Cyrus Mistry and Shapoor Mistry are the owners of 18.5 percent stake in the company. This makes the Mistrys the largest shareholders on individual basis of this company.
Earlier in December 2012, Cyrus Mistry was also appointed as chairman of Tata Motors. He would commence playing his role from 28 December 2012. He was also appointed as chairman of two other Tata companies- Tata Chemicals and Tata Steel.
In November 2012, Ratan Tata also bowed out from Tata Global Beverages as the chairman, which paved way for Mistry.
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