Cyrus Mistry

For the Indian writer, see Cyrus Mistry (writer).

Cyrus Mistry
Born
Cyrus Pallonji Mistry

(1968-07-04)4 July 1968
Bombay, Maharashtra, India
Died4 September 2022(2022-09-04) (aged 54)
Palghar, Maharashtra, India
CitizenshipIrish[1]
Alma mater
OccupationBusinessman
Spouse
Rohiqa Mistry
​
(m. 1992)​
Children2
FatherPallonji Mistry
RelativesNoel Tata
(brother-in-law)

Cyrus Pallonji Mistry (4 July 1968 – 4 September 2022) was an Indian born Irish billionaire businessman. He was the chairman of the Tata Group, an Indian business conglomerate, from 2012 to 2016.[2][3] He was the sixth chairman of the group, and only the second (after Nowroji Saklatwala) not to bear the surname Tata.[4] In mid-2012, he was chosen by a selection panel to head the Tata Group and took charge in December that year. In October 2016, the board of Tata Group's holding company, Tata Sons, voted to remove Mistry from the post of chairman.[5] Former chairman Ratan Tata then returned as interim chairman, and Natarajan Chandrasekaran was named as the new chairman a few months later.[6] However, in December 2019, the National Company Law Appellate Tribunal (NCLAT) declared the appointment of Chandrasekaran as executive chairman illegal, and restored Mistry. However, the Supreme Court stayed NCLAT's order on 10 January 2020.[7] Mistry had filed a cross-appeal in the court, seeking explanations for anomalies in the NCLAT.[8] However, the Supreme Court upheld his dismissal.[9]

He owned an 18.4% stake in Tata Sons, through his company, Cyrus Investments Pvt. Ltd.[10] According to the Bloomberg Billionaires Index, Mistry had a net worth of nearly $29 billion at the time of his death, making him one of the richest men in India.[11] He was a member of the National Integration Council. He died in a road crash on 4 September 2022 on the Ahmedabad - Mumbai highway. Bad road design near the bridge at the spot of the crash and occupants not wearing seat belts was cited by the forensic investigation team as the cause of the crash.[12]

  1. ^ Cite error: The named reference TOI was invoked but never defined (see the help page).
  2. ^ "Cyrus P Mistry to take over from Ratan Tata as Chairperson of Tata Group in December 2012". The Economic Times. 23 November 2011. Archived from the original on 7 December 2016. Retrieved 24 November 2011.
  3. ^ "Cyrus Mistry takes over the position of chairman for Tata Sons in December 2012". 26 November 2011. Archived from the original on 24 March 2013. Retrieved 29 April 2014.
  4. ^ Cite error: The named reference CNBC was invoked but never defined (see the help page).
  5. ^ "How Ratan Tata's blue-eyed boy Cyrus Mistry turned his rival". businesstoday.in. 10 January 2020. Archived from the original on 11 January 2020. Retrieved 21 February 2020.
  6. ^ "N Chandrasekaran, CEO and MD of Tata Consultancy Services, is new Chairman of Tata Sons". The Times of India. Archived from the original on 16 January 2017. Retrieved 17 January 2017.
  7. ^ Rautray, Samanwaya (11 January 2020). "Tata vs Mistry: Supreme Court stays NCLAT order favouring Cyrus Mistry". The Economic Times. Archived from the original on 16 March 2020. Retrieved 22 January 2020.
  8. ^ "Tata-Mistry Case: Cyrus Mistry Files Appeal In Supreme Court Seeking More Relief From NCLAT". BloombergQuint. 17 February 2020. Archived from the original on 21 February 2020. Retrieved 21 February 2020.
  9. ^ "Tatas making Cyrus chairman wrong decision of lifetime:Supreme Court". The Times of India. 27 March 2021. Archived from the original on 31 March 2021. Retrieved 31 March 2021.
  10. ^ "Cyrus Investments seeks representation on Tata Sons board". Live Mint. 1 November 2018. Archived from the original on 1 November 2018. Retrieved 1 November 2018.
  11. ^ Sanjai, P.R.; Joshi, Ashutosh (4 September 2022). "Cyrus Mistry, Heir to One of India's Oldest Fortunes, Dies at 54". Bloomberg News. Retrieved 4 September 2022.
  12. ^ Cite error: The named reference faulty bridge design was invoked but never defined (see the help page).