Cyrus Mistry: The man who remained only prince at Tata Group

Early Monday evening after Dalal Street had shut shop for the day, there was surprise waiting for India Inc. The news of a shakeup at the behemoth Tata Group was out: Cyrus Mistry was on his way out and the septuagenarian Ratan Tata was back in the fold.

Cyrus Mistry became a part of the national consciousness in 2012. It was the year when Mistry, all of 46, became the Chief Executive Officer of the $100 billion Tata Sons. It was also the year when Ratan Tata stepped down to make way for younger blood.

No big deal.

Except that Mistry, half-Irish and half-Indian, was the second non-Tata - the first being Nowroji Saklatwala - who had risen to the top in the history of the business group at Bombay House.

Also Read: Was Tata Sons unhappy with Mistry's approach of focusing only on cash cows?

Being the son of Pallonji Mistry, who was the head of infrastructure conglomerate Shapoorji Pallonji Group, helped Mistry Jr.'s cause. It also bolstered his cause as his father Pallonji was the biggest shareholder in Tata Sons when the baton was passed on to him.

While many debated whether it was his father's credentials that worked in his favour, Mistry was no lightweight himself. A Civil Engineer from London's prestigious Imperial College, he was involved in the family's flagship construction business before he left it to join the Tatas. He learnt the business ropes at Tata Industries, Tata Steel, Tata Chemicals and Tata Motors. And his hard work paid off as he rose to be the director of several other companies like Forbes Gokak, United Motors (India) and Shapoorji Pallonji and Co.


The Pallonji Mistry family picture taken from the book, ‘Enduring Legacy-Parsis of the 20th Century’, edited by Nawaz B. Mody. Here Cyrus Mistry poses with sisters Laila and Aloo, brother Shapoor and parents Pallonji and Patsy Mistry. (Image: BCCL)

Till 2012, the unassuming Mistry was a relatively low-profile figure within India Inc circles, spending time with his wife Rohiqa, teenage sons - Firoz and Zahan - and his two dogs. In interviews, he has also mentioned that his better half is his best friend and his Clementine mirror.

But with great power comes great responsibilities. And filling in the boots of Ratan Tata was not an easy task, as Mistry tried to manoeuver various arms of the Group and make them profitable.

For the shy and reticent Mistry, the dip in Tata's worth dipping to $103 billion in 2015-2016 from $108 billion the previous year, was an unkind cut. Add to that a net debt rising to $24.5 billion this year from $23.4 billion a year ago which was the biggest recorded in the history of the group. His decision to sell Tata steel's UK plant also created panic among employees and the British government.

In an earlier interview posted on the Tata website, Mistry had said that he was "doing a bad job of keeping a healthy work-life balance" as he hadn't stepped on a golf course in the past five years while he was at the top.

Now with his work schedule relaxed, maybe Cyrus Mistry could take that up, again.