Cyrus Mistry (1968-2022) was an Indian-born Irish businessman and a descendant of the Shapoorji Pallonji Group. He served as chairman of the Tata Group, a Mumbai-based Indian multinational conglomerate, from 2012 to 2016. Cyrus died in a fatal car accident near Mumbai on September 4, 2022.
Wiki/Biography
Cyrus Pallonji Mistry was born on Thursday, July 4, 1968 in Bombay (now Mumbai), Maharashtra (54 years old; as of 2022). His zodiac sign is Cancer. He was educated at Cathedral and John Connon School, Bombay Fort, Maharashtra. Cyrus received a bachelor’s degree in civil engineering from Imperial College London in 1990. Thereafter, he received a Master of International Administration from London Business School, University of London (1996). He is a member of the Institution of Civil Engineers.
appearance
Height (approximately): 5′ 9″
Hair color: black
Eye color: black
family
He comes from a Parsi family. Both his parents believed in Zoroastrianism. Since his mother was an Irish citizen, his father decided to become an Irish citizen as well.
Parents and siblings
Cyrus Mistry is the younger son of construction tycoon Pallonji Shapoorji Mistry. His father passed away on June 28, 2022, at the age of 93. His mother, Patsy Perin Dubash, was born in Ireland. Patsy is of Indian origin. His elder brother Shapoor Mistry is a businessman (in real estate and textile business). Shapur is also an Irish citizen. Shapur’s wife, Behroze Sethna, is the daughter of Parsi lawyer Rusi Sethna. He has two sisters, Laila Mistry and Aloo Mistry. Laila is married to Rustom Jehangir, a London-based portfolio fund manager, and Aloo is married to Ratan Tata’s half-brother Noor ·Noel Tata.
Cyrus Mistry with his parents and siblings
wife and children
On January 2, 1992, Cyrus Mistry married Rohiqa Mistry. Rohiqa Mistry is the daughter of the famous Indian lawyer Iqbal Chagla and the famous Indian jurist, diplomat and cabinet minister Mohammadali Granddaughter of Carim Chagla (commonly known as MC Chagla). He has two sons with Roshika: Zahan Mistry and Firoz Mistry.
Cyrus Mistry and his wife
Cyrus Mistry with his wife and children
religion
Cyrus Mistry is a Zoroastrian. According to a letter written by the Shapurji Pallonji group after Mistry’s death, he followed Zoroastrian principles of righteousness. The letter stated,
Cyrus Mistry firmly adheres to the Zoroastrian principles of justice, honesty and ethics in dealing with all people. He is known for transparency and integrity in all business dealings. “
Profession
Cyrus Mistry began his corporate career in 1991, joining his family’s construction company, Shapoorji Pallonji & Co. Ltd, as a director. Cyrus was appointed Managing Director of Shapoorji Pallonji Group in 1994. In September 2006, Cyrus joined the board of directors of Tata Sons (a year later, his father Pallonji Mistry retired from the company), representing his family’s 18.5% stake in Tata Sons. company; his grandfather first bought a stake in Tata Sons in the 1930s. He previously held non-executive positions on the boards of several other Tata companies including Tata Elxsi Limited and Tata Power Co. Ltd. In November 2011, he resigned from Shapoorji Pallonji & Company after being appointed as Vice Chairman of the Tata Group. . He worked for about a year under the tutelage of Indian industrialist Ratan Tata.
Cyrus Mistry and Ratan Tata during a business meeting
A year later, Cyrus was appointed chairman of the group following the retirement of Ratan Tata, who had led the group since 1991. Apparently, he was initially reluctant to take the job, but after some persuasion from Ratan Tata, he agreed to take it. Additionally, he leads all major businesses of the Tata Group such as Tata Motors, Tata Steel, Tata Consultancy Services, Tata Remote Services, Tata Power, Tata Global Beverages and Tata Chemicals.
Cyrus Mistry addresses board members
On October 24, 2016, the board of directors of Tata Sons voted to remove Cyrus as chairman and provided him with the opportunity to voluntarily resign from his position. After stepping down, Ratan Tata took over as interim chairman of the group for a few months before being succeeded by Natarajan Chandrashekharan. After being fired by Tata Sons, Cyrus returned to his family business and under his guidance, their construction business did extremely well. The company, previously responsible only for the construction segment, began executing projects under design and build and EPC delivery methods, implementing complex projects in the marine, oil and gas and rail sectors. The company also undertakes large road projects. The company is also moving into agriculture and biofuels.
Legal battle – Mistry v Tata Group
Mistry’s relationship with the Tata Group and its founder, Ratan Tata, began to sour in October 2016 when he was ousted in a boardroom coup. In December 2016, Mistry and his family-backed companies Cyrus Investments Pvt Ltd and Sterling Investments Corporation Pvt Ltd took Tata Sons to the National Company Law Appellate Tribunal (NCLAT). He alleged oppression and mismanagement by Tata Sons and claimed his work had been appreciated a few months ago. He also asked the group what led to his sudden removal as chairman. 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 verdict and said that the dismissal of Celestetha Sons as chairman was illegal. He reinstated Cyrus as chairman of Tata Sons for the remainder of his term.
Cyrus Mistry outside court
In January 2020, Ratan Tata and Tata Sons approached the Supreme Court challenging the National Company Law Appellate Tribunal’s ruling that the court stayed NCLAT’s reinstatement of Cyrus as Tata Sons Sons) Chairman’s decision. Cyrus Mistry then filed a cross-appeal before the Supreme Court seeking more relief from the court. Later, the Supreme Court barred Shapoorji Pallonji Group from pledging its Tata Sons shares to raise funds. In March 2021, during the last court hearing, the Supreme Court ruled that the removal of Cyrus Mistritata’s son from the position of “chairman” was legal.
die
Cyrus Mistry died in a car accident on September 4, 2022, while traveling from Udwada, Gujarat to Mumbai in his Mercedes GLC Sports along with three others. Apparently their car was speeding and when the driver tried to overtake another car from the wrong side, she lost control of the car and the car hit a road divider on a bridge over the Charlotina Kasurya River . Apparently, Cyrus was in the back seat and not wearing a seat belt. The accident happened around 2:30 p.m. Cyrus’ autopsy report showed that in addition to severe chest injuries, he also suffered a head injury that caused massive bleeding.
Cyrus Mistry’s car before and after the accident
Prime Minister Narendra Modi mourned his untimely death on social media, writing:
The untimely death of Shri Cyrus Mistry comes as a shock. He was a promising business leader who believed in India’s economic strength. “
Later, Shapoorji Pallonji Group wrote a heartfelt condolence letter to Mistry’s family on LinkedIn. In the letter, the group described him as a visionary businessman and a low-key man. it reads,
CPM, as he is affectionately called, is a voracious reader committed to a lifelong learning journey across multiple disciplines. Despite his success, he has always kept a low profile and stayed out of the spotlight. Cyrus Mistry firmly adheres to the Zoroastrian principles of justice, honesty and ethics in dealing with all people. He is known for his transparency and integrity in all business dealings. He was very humble and approachable, always lending a helping hand to the less fortunate. “
car collection
He has an extensive car collection which includes Mercedes-Benz GLC 220d 4MATIC, Honda CR-V, Jaguar XF, Tata Safari Storme and Tata Aria.
net worth
According to some media reports, Cyrus Mistry’s net worth in 2018 was Rs. 70,957 Crores.
expensive things/valuable items
- Tatiana, an 80-meter superyacht worth $100 million
- Luxury homes in London, Dubai, Ireland and Mumbai.
- Tata Group private jets available for personal and professional travel till 2020
Favorites
- Cuisine: Parsi, Maharashtrian
- Food: Thecha, Curry Shrimp
- Vacation destination: Europe
Facts/Trivia
- In his free time, Cyrus Mistry enjoys reading and playing golf. He shared his family’s love of horses.
- Cyrus is an avid foodie and loves trying different cuisines.
- He follows a non-vegetarian diet.
- In interviews, some of his close friends described him as a soft-spoken, candid and down-to-earth man.
- He has an undying love for luxury cars, especially SUVs.
- He was affectionately known as “CPM” to family and friends.
- Cyrus has been granted Indian Overseas Citizenship and is a permanent resident of India. He sees himself as a global citizen.
- In 2012, Cyrus became the sixth chairman of the Tata Group. He is the second non-Tata chairman of the group, the first being Nowroji Saklatwala.
- In a 2013 article in The Economist, he was named “the most important industrialist in India and the UK”.
- NCP leader Supriya Sule called Cyrus her twin in an interview and said:
We are like twins with many common habits. We always talk on the phone while eating. This habit irritated his wife Rohiqa, who often pointed out that it was impolite to talk while eating. He likes to go to Pune and eat simple food. He was as at home in Matheran and Mahabaleshwar as he was in Switzerland and Paris. “
Furthermore, while sharing Mistry’s childhood habits, she said:
He hates being photographed, flashlighted, and receiving any kind of attention. He was always on time and valued time and people. He possesses all the good qualities of leadership and management. He read a lot, was very polite and soft-spoken. “
Categories: Biography
Source: HIS Education