In a recent meeting, the board of directors of Tata Sons elected and appointed Cyrus P Mistry as the Deputy Chairman of the $83 billion dollar group. The 42-year old Mistry is the second youngest leader in the group's 143-year history. He is also the second non-Tata who will be taking charge of the group after Nowroji Saklatvala in 1932.
Cyrus Mistry will now work closely with Ratan Tata over the next year and will then take over when Mr. Tata retires in December 2012. Mr. Mistry has been on the board of Tata Sons since 2006. During his tenure, Mistry has impressed the board members with the quality and caliber of his participation.
Mr. Tata said, “The appointment of Mr. Cyrus P Mistry as Deputy Chairman of Tata Sons is a good and far-sighted choice.” He further added, “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.”
Mr. Mistry is presently working as a managing director of the Shapoorji Pallonji Group. Mr. Mistry completed his studies in civil engineering graduating from Imperial College, London and also holds a Master of Science degree in management from the London Business School.
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