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Sunday, Nov 27, 2022

Who is Cyrus Mistry?

Cyrus Mistry was the sixth chairman of Tata Sons and had taken over in 2012 after Ratan Tata. Mistry was ousted as Tata Sons chairman on October 24, 2016, and was also removed subsequently as a director on the board of the holding company on February 6, 2017.

Cyrus Mistry, tata, tata son, tata confidential papers, tata group, tata sue mistry, national company law tribunal, indian express news, india news, companies Cyrus Mistry is a Civil Engineer from London’s prestigious Imperial College. (File photo)

With the NCLAT on Wednesday restoring him as executive chairman of Tata Sons, life seems to come full circle for Cyrus Mistry. Cyrus Mistry, son of Pallonji Mistry who is the owner of Shapoorji Pallonji group and the biggest stakeholder in the Tata group, was appointed to the top position in 2012. Relations were seen as amicable between Mistry and Tata till the former was removed as chairman of Tata Sons in October 2016.

Mistry had effected several changes in the business practices due to which capital expenditure increased but returns to shareholders decreased. He replaced the trusted hands of Ratan Tata and his proposed sale of Tata Steel port plant in the UK was seen as harming the goodwill earned by Tata abroad. The extended dispute with Docomo group proved to be one of the nails in the coffin. Tata had to cough up $1.2 billion in arbitration to the Japanese group.

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