Dark (young) horse Mistry named Ratan Tata’s successor
- Navy officer dies on board INS Kolkata off Mumbai
- SC calls Sahara proposal an âinsultâ, Subrata Roy to stay in jail till March 11
- I'm not a terrorist, Modi should have met me: Arvind Kejriwal
- Modi to hold 'Chai Pe Charcha' on women empowerment on Saturday
- Will not campaign for any candidate, says Anna Hazare
Cyrus Pallonji Mistry, 43, will head the $ 83.3 billion Tata empire when Ratan Naval Tata retires in December 2012. Mistry is the youngest son of construction baron Pallonji Mistry, the largest individual shareholder with around 18 per cent stake in Tata Sons, the holding of various Tata group companies.
Mistry, MD of the Shapoorji Pallonji Group, has been a director of Tata Sons since August 2006. He was on the selection committee to find a successor to Ratan Tata.
Mistry was appointed deputy chairman by the board of directors of Tata Sons at its meeting on Wednesday. "He will work with Ratan Tata over the next year and take over from him when Tata retires in December 2012. This is as per the unanimous recommendation of the selection committee," Tata Sons said.
Chairman Ratan Tata said, "The appointment of Cyrus Mistry as deputy chairman of Tata Sons is a good and far-sighted choice... I have been impressed with the quality and calibre of his participation, his astute observations and his humility."
Cyrus, a civil engineering graduate from Imperial College, London, has a Master of Science in management from London Business School.
- Chai pe Charcha gets police protection, EC officials to check on poll norm violation
- Complaint against Kejriwal: Kutch cops gather evidence
- AAP chief to hold first public meeting in Gujarat today
- Nominations for North Bangalore primary begin
- ‘Our campaigning in the state will be out of the box’
- ‘Aai Retire Hotey’ to take the stage for 100th time today