Cyrus Mistry – Son of Pallonji Shapoorji Mistry & the Youngest Director of TATA Sons. Cyrus Mistry can be the Next Chairman of Tata Group after Ratan Tata.
Pallonji Shapoorji Mistry – Irish Citizen, Also known as “Phantom of Bombay House”. A Media Shy Person. Construction Tycoon. Richest Person of the Irland, Net Worth US $ 5.5 Billion. This is the Person who owns 18% stake (Shares) of TATA Sons – The Key Holding Company of TATA Group & That’s why Cyrus Mistry can be the Next Chairman of Tata Group after Ratan Tata.
Cyrus Pallonji Mistry is a 40 years (2009) old, the younger son of construction tycoon Pallonji Mistry.
The Mistry family continues to hold a valuable 18% stake in Tata Sons and Pallonji Mistry has been board member for a long time. His father Shapoorji Pallonji Mistry bought 12.5% from the FE Dinshaw Estate some time in the 1930.
He later acquired more stake from other Tata family members, taking his holding to about 16.5%.
JRD Tata, who was appointed Tata group chairman in 1938, was incensed. But cooler heads prevailed and the two families decided to let the matter subside and maintain a cordial relationship. Pallonji Mistry, who took over from his father in the 1970s, built on that and his daughter Aloo Mistry’s marriage to Noel Tata, Mr Ratan Tata’s step-brother, seemed to indicate that relations were on a normal level.
Pallonji Mistry’s family is the biggest non-Tata shareholder in Tata Sons. In the early 1990s, he invested over Rs 60 crore of his own money in the Tata Sons rights issue to maintain his stake in the company. The other major shareholders of Tata Sons are the Tata Trusts and some of the Tata group companies.
Cyrus Mistry’s appointment ends a long suspense over who will take Pallonji Mistry’s position on the board. The elderly, soft-spoken construction magnate had wanted one of his sons to be nominated, but the Tata group and Ratan Tata in particular had not taken a decision on it for a long time.
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