Cyrus P Mistry to head Tata Empire ,Succeeding Ratan Tata

Cyrus P Mistry, the 43-year-old Managing Director of Shapoorji Pallonji Group, will succeed Ratan Tata as the chairman of Tata sons. He will be crowned as head of Tata Sons, the holding company of over $80 billion conglomerate Tata Group,succeeding incumbent Ratan Tata who retires next year.

From leading the Billion dollar construction giant Shapoorji Pallonji Group as Managing Director, Mistry will be entitled to a much bigger role ,leading the salt-to-software conglomerate that has been rapidly expanding across global markets.

Cyrus is the younger son of construction magnate Pallonji Mistry and belongs to a family which is one of the largest shareholder in the Tata Group.Born on July 4, 1968, Cyrus Pallonji Mistry is a Graduate in Civil Engineering from the Imperial College of Science, Technology and Medicine, London.

He also holds a Masters Degree in Management from the London Business School.Mistry has been a Director of Tata Sons since August 2006.At present, he is a Director of Tata Sons and Tata Elxsi (India). He was also a part of the five-member selection committee set up to find Ratan Tata's successor.

"The Board of Directors of Tata Sons at its meeting today appointed Cyrus P Mistry as the Deputy Chairman. He will work with Ratan N Tata over the next year and take over from him when Tata retires in December 2012," Tata Sons said in a statement.

This is as per the unanimous recommendation of the selection committee, it added. Shapoorji Pallonji Group holds 18 per cent stake in Tata Sons. Commenting on the appointment, Ratan N Tata, Chairman of Tata Sons, said: "The appointment of Cyrus P Mistry as Deputy Chairman of Tata Sons is a good and far-sighted choice.