Cyrus Mistry (1968-2022) was an Indian-born Irish businessman and scion of the Shapoorji Pallonji Group. He served as chairman of the Tata Group, an Indian multinational conglomerate headquartered in Mumbai, from 2012 to 2016. Cyrus died in a fatal car accident near Mumbai on 4 September 2022.
Wiki/Biography
Cyrus Pallonji Mistry was born on Thursday, 4 July 1968 (age 54; in 2022) in Bombay (now Mumbai), Maharashtra. His zodiac sign is Cancer. He attended John Connon’s Cathedral and School, Fort, Mumbai, Maharashtra. Cyrus pursued a Bachelor of Engineering in civil engineering from Imperial College, University of London in 1990. Subsequently, he obtained an International Executive Master’s Degree in Management from London Business School, University of London (1996). He is a fellow of the Institution of Civil Engineers.
Physical appearance
Height (approx): 5′ 9″
Hair Color: Black
Eye Color: Black
Family
He belongs to a Persian family. Both his parents followed the Zoroastrian faith. As his mother was an Irish citizen, his father also decided to take Irish citizenship.
Parents & Siblings
Cyrus Mistry is the youngest son of construction baron Pallonji Shapoorji Mistry. His father died at the age of 93 on June 28, 2022. His mother, Patsy Perin Dubash, was born in Ireland. Patsy is from India. His brother, Shapoor Mistry, is a businessman (involved in real estate and textile business). Shapoor is also an Irish citizen. Shapoor married Behroze Sethna, daughter of Persian lawyer Rusi Sethna. He has two elder sisters, Laila Mistry, Aloo Mistry. Laila is married to Rustom Jehangir, a portfolio fund manager based in London and Aloo is married to Noel Tata, Ratan Tata’s half-brother.
Cyrus Mistry with his parents and siblings
Wife & Children
On 2 January 1992, Cyrus Mistry was married to Rohiqa Mistry, daughter of a prominent Indian lawyer, Iqbal Chagla and granddaughter of the famous Indian jurist, diplomat, and Cabinet Minister Mohammadali Carim Chagla (better known as MC Chagla). He has two sons with Rohiqa, Zahan Mistry and Firoz Mistry.
Cyrus Mistry with his wife
Cyrus Mistry with his wife and children
religion
Cyrus Mistry followed Zoroastrianism. As per the letter written by Shapoorji Pallonji Group after Mistry’s death, he followed Zoroastrian principles of truth. The letter read,
Cyrus Mistry is deeply committed to Zoroastrian principles of righteousness, honesty and ethics with all people. He is known for his transparency and integrity in all his business dealings.”
Career
Cyrus Mistry began his corporate career in 1991 by joining his family’s construction company Shapoorji Pallonji & Co. Ltd as a director. Cyrus was appointed Managing Director of the Shapoorji Pallonji Group in 1994. In September 2006, Cyrus joined the board of Tata Sons (a year after his father, Pallonji Mistry, retired from the company), representing his family’s 18.5 percent stake in the company; His grandfather had bought shares in Tata Sons for the first time in the 1930s. Earlier, he held non-executive positions on the board of directors of several other Tata companies such as Tata Elxsi Limited and Tata Power Co. Ltd. In November 2011, he resigned from Shapoorji Pallonji & Company after he was appointed as deputy chairman of the Tata Group. He worked under the guidance of Indian businessman Ratan Tata for about a year.
Cyrus Mistry with Ratan Tata during a business meeting
A year later, after the retirement of Ratan Tata, who had headed the Tata Group since 1991, Cyrus was appointed chairman of the group. Apparently, he was initially reluctant to take up the post, but after some persuasion from Ratan Tata, he agreed to take up the post. Apart from this, he also heads all major businesses of the Tata group such as Tata Motors, Tata Steel, Tata Consulting Services, Tata Teleservices, Tata Power, Tata Global Beverages and Tata Chemicals.
Cyrus Mistry addressed the board members
On 24 October 2016, the Tata Sons Board voted to remove Cyrus from his position as chairman after giving him the opportunity to voluntarily resign. During his departure, Ratan Tata took over as interim Chairman of the Group for a few months and later, the post was filled by Natarajan Chandrashekharan. After being sacked from Tata Sons, Cyrus returned to his family business and under his guidance, their construction business did very well. Companies that previously only dealt with the construction side began to implement projects under the design and build and EPC delivery methodology, executing complex projects in the marine, oil and gas and rail sectors. The company also undertakes large road projects. The company also ventures into agriculture and biofuels.
Legal Battle- Mistry Vs Tata Group
After Mistry was replaced in a coup in October 2016, his relationship with the Tata Group and his father Ratan Tata began to sour. In December 2016, Mistry, along with his family-backed firms Cyrus Investments Pvt Ltd and Sterling Investments Corporation Pvt Ltd dragged Tata Sons to the National Company Law Appellate Tribunal (NCLAT). He alleged oppression and mismanagement by Tata Sons and claimed that his work was appreciated months earlier. He also asked the group about the reasons that led to his sudden removal from the post of 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 judgment and held that Cyrus’ dismissal as Chairman of Tata Sons was invalid. He reinstated Cyrus as Chairman of the Tata children for the remainder of his term.
Cyrus Mistry outside the court
In January 2020, Ratan Tata and Tata Sons challenged the National Company Law Appellate Tribunal decision before the Supreme Court and the court stayed the NCLAT decision to reinstate Cyrus as Tata Sons Chairman. Subsequently, Cyrus Mistry filed a counter-appeal in the Supreme Court, seeking more relief from the tribunal. Later, the Supreme Court restrained the Shapoorji Pallonji Group from pledging its shares in Tata Sons to raise funds. In March 2021, during the final court hearing, the Supreme Court ruled that the removal of Cyrus Mistry as the ‘Chairman’ of Tata Sons was valid.
Death
On 4 September 2022, Cyrus Mistry died in a car accident while he was traveling from Udwada Gujarat to Mumbai in a Mercedes GLC Sports along with three others. Apparently, their car was speeding and when the driver tried to overtake another vehicle from the wrong direction, he lost control of the car and the car hit the road divider on the bridge over the Surya river at Charoti Naka. Apparently, Cyrus was sitting in the back seat and was not wearing a seat belt. The accident happened at about 2.30 pm. Cyrus’ autopsy report revealed that he suffered a head injury, which led to hemorrhaging (heavy bleeding), in addition to severe chest injuries.
Cyrus Mistry’s car before and after the accident
Mourning his sudden death, Prime Minister Narendra Modi wrote on social media,
The untimely death of Shri Cyrus Mistry is shocking. He is a promising business leader who believes in the greatness of the Indian economy.”
Later, the Shapoorji Pallonji Group wrote a heartfelt condolence letter on LinkedIn, addressed to the Mistry family. In the letter, the group referred to him as a visionary businessman and a low-profile person. It reads,
CPM, as he is known, is a voracious reader, committed to a life-long journey of learning across multiple disciplines. Despite his success, he was always humble, away from the limelight. Cyrus Mistry is deeply committed to Zoroastrian principles of righteousness, honesty and ethics with all people. He is known for his transparency and integrity in all his business dealings. He was very humble, approachable to everyone, and always reached out to those less fortunate.”
Car Collection
He has a huge collection of cars including Mercedes-Benz GLC 220d 4MATIC, Honda CR-V, Jaguar XF, Tata Safari Storme, and Tata Aria.
Net worth
As per some media reports, Cyrus Mistry’s net worth in 2018 is Rs. 70,957 crore.
Expensive/Precious Things
- An 80-meter Tatiana superyacht worth $100 million
- Luxury homes in London, Dubai, Ireland and Mumbai.
- Access to Tata Group private jets for personal and professional travel until 2020
Favourite
- Cuisine: Persian, Maharashtrian
- Food: Thecha, Prawn Curry
- Vacation Destination: Europe
Facts/Trivia
- Cyrus Mistry likes to read and play golf in his spare time. He shares his family’s love of horses.
- An avid foodie, Cyrus loves to try different cuisines.
- He follows a non-vegetarian diet.
- In an interview, some of his close friends described him as gentle, straightforward and humble.
- He has an undying love for luxury cars, especially SUVs.
- He is referred to as CPM by his family and friends.
- Cyrus has acquired 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 chairman of the group not to use the Tata surname, the first being Nowroji Saklatwala.
- In an article published by The Economist in 2013, he was named ‘the most important businessman in India and Britain.’
- In an interview, calling Cyrus her twin, NCP chief Supriya Sule said,
We are like twins because we have many common habits. We always talk on the phone while eating. This habit angered his wife Rohiqa who once stated that eating and talking at the same time was impolite. Just going to Pune and eating simple food is what he likes. He is as comfortable in Matheran and Mahabaleshwar as he is in Switzerland and Paris.”
Further, sharing Mistry’s childhood habits, he said,
He hates being photographed, flashlights and any attention. He is always punctual and values time and people. He has all the qualities of good leadership and management. He reads a lot of books, is very respectful and soft-spoken.”
Categories: Biography
Source: SCHOOL TRANG DAI
