How & why Cyrus Mistry will define India in 2012
Because he will take charge of India's biggest, most global and arguably most respected business empire: the Tata Group, collectively worth $83 billion.
By ET Bureau | Updated:
Cyrus Pallonji Mistry
43 years, Chairman designate, Tata Group
Sector: Corporate
Career Milestones:
Completed engineering from Imperial College, London and masters in management from London Business School.
Served on the boards of Tata companies like Tata Elxsi and Tata Power.
Why him:
Because he will take charge of India’s biggest, most global and arguably most respected business empire: the Tata Group, collectively worth $83 billion. He will be the first non-Indian (Mistry is Irish) and second non-Tata (after Sir Nowroji Saklatvala) to head the conglomerate. The media did not have a whiff of his position at the top of the potential successor list. Mistry didn’t fuel speculation either: he has always preferred to be under the radar. This year we will get to really know him, the man who led Shapoorji Pallonji & Co from a $20-million to a $1.5-billion company.
His 2011:
He resigned as managing director of Shapoorji Pallonji & Co after his nomination was announced to avoid possible conflicts of interest.
Many closed-door grooming sessions and some very public meetings. Mistry and Ratan Tata have met PM, industry minister Anand Sharma and Gujarat CM Narendra Modi. Mistry will also have to deal with questions galore at the AGMs of some of the Tata Group companies. The official crowning will be in December 2012: Ratan Tata will retire and Mistry’s real test will begin.
Cyrus Mistry holds an Irish passport and was born on American Independence Day, July 4.
Who Else: KM Birla
44 years, Chairman, Aditya Birla Group
Though the grapevine was that Birla may exit telecom, he may actually do the reverse and cheerlead the consolidation in the industry. His retail venture, More, will want to make the most of FDI norms if they are revised. His insurance business will also make news, an IPO and even a big international purchase is a possibility.
43 years, Chairman designate, Tata Group
Sector: Corporate
Career Milestones:
Completed engineering from Imperial College, London and masters in management from London Business School.
Served on the boards of Tata companies like Tata Elxsi and Tata Power.
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In 2006, was inducted into the board of Tata Sons, the group holding company.Why him:
Because he will take charge of India’s biggest, most global and arguably most respected business empire: the Tata Group, collectively worth $83 billion. He will be the first non-Indian (Mistry is Irish) and second non-Tata (after Sir Nowroji Saklatvala) to head the conglomerate. The media did not have a whiff of his position at the top of the potential successor list. Mistry didn’t fuel speculation either: he has always preferred to be under the radar. This year we will get to really know him, the man who led Shapoorji Pallonji & Co from a $20-million to a $1.5-billion company.
His 2011:
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Did one big thing: filled the most coveted vacancy in India Inc. It was enough to make him the corporate star of 2011. He resigned as managing director of Shapoorji Pallonji & Co after his nomination was announced to avoid possible conflicts of interest.
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What next: Many closed-door grooming sessions and some very public meetings. Mistry and Ratan Tata have met PM, industry minister Anand Sharma and Gujarat CM Narendra Modi. Mistry will also have to deal with questions galore at the AGMs of some of the Tata Group companies. The official crowning will be in December 2012: Ratan Tata will retire and Mistry’s real test will begin.
Cyrus Mistry holds an Irish passport and was born on American Independence Day, July 4.
Who Else: KM Birla
44 years, Chairman, Aditya Birla Group
Though the grapevine was that Birla may exit telecom, he may actually do the reverse and cheerlead the consolidation in the industry. His retail venture, More, will want to make the most of FDI norms if they are revised. His insurance business will also make news, an IPO and even a big international purchase is a possibility.
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