Tata Motors, one of the biggest auto makers of the country has got a new deputy chairman – Cyrus P Mistry, who is also deputy chairman of Tata Sons, the main holding company of the Tata group. As of now, Mistry will remain chairman designate and will take over as the chairman from Ratan Tata when he retires in December later this year.
Mistry has been a director of Tata Sons since 2006 and was later appointed as the deputy chairman of Tata Sons in November 2011. Going back to the past, Mistry's grandfather in the 1930s bought stakes in Tata Sons, which presently accounts to 18.5 per cent and is owned by Mistry's father, who also happens to be the largest single share holder in the company. Mistry joined Tata Sons a year after his father retired as director of Tata Sons in 2005.
Mistry at present is the chairman of the Board of Shapoorji Pallonji Group and Afcons Infrastructure. Apart from these, he also serves as Director of various groups including Forvol International Services Ltd, Cyrus Investments Ltd, Shapoorji Pallonji & Co. Ltd, and Shapoorji Pallonji Power Co. Ltd, to name a few.
Mistry was inducted to the board of Tata Motors in May this year. He will also be appointed as director of Jaguar Land Rover after its present director Ravi Kant steps down. Ravi Kant will, however, continue to deliver his services to Tata Motors by continuing to hold the office of non-executive vice chairman.
