Cyrus Mistry

Some Lesser Known Facts About Cyrus Mistry

• Cyrus Mistry was an Irish businessman of Indian origin. He was the former chairperson of the Tata Group, an Indian multinational conglomerate headquartered in Mumbai, and a scion of the Shapoorji Pallonji Group.

• He was born to Parsi parents. Both his parents followed the Zoroastrian faith. His mother (of Indian origin) was a citizen of Ireland. Later, his father also decided to take up Irish citizenship.

• Cyrus was a fellow of the Institution of Civil Engineers. ^[11]News18

• In 1991, Cyrus Mistry joined his family’s construction company Shapoorji Pallonji & Co. Ltd as a director.

• Three years later, he was appointed as the Managing Director of the Shapoorji Pallonji Group. Under his leadership, their construction business flourished and their company, which was earlier limited to construction, started implementing projects under design and build and EPC delivery methodologies, implementing complex projects in the marine, oil and gas, and rail sectors. The company also undertook agriculture, biofuels, and large road construction projects.

• In September 2006, a year after Mistry’s father, Pallonji Mistry, retired from Tata Sons, Cyrus joined the board of the company, representing his family’s 18.5 per cent stake in the company. Apparently, Cyrus’ grandfather purchased the shares in the company for the first time in 1930s.

• Previously, Cyrus held many non-executive positions on boards of several other Tata companies like Tata Elxsi Limited and Tata Power Co. Ltd.

• In November 2011, Cyrus was appointed as the deputy chairman of the Tata Group; initially, he feared taking up the responsibility, but after much persuasion from Ratan Tata, Cyrus agreed to take up the post.

• Subsequently, he resigned from Shapoorji Pallonji & Company to avoid any conflict of interest.

• He worked as the deputy chairman of Tata Sons under the leadership of Ratan Tata for around a year. Upon Tata’s retirement in 2012, Cyrus was appointed as the chairman of the Tata Sons, becoming the sixth chairman of the Tata Group; He was the second chairman of the company who did not bear the Tata surname, first one being Nowroji Saklatwala.

  

• Besides being the chairman of the Tata Sons, Cyrus also headed the key businesses of the Tata group like Tata Motors, Tata Steel, Tata Consultancy Services, Tata Teleservices, Tata Power, Tata Global Beverages, and Tata Chemicals.

  

• On 24 October 2016, after serving as the chairman of Tata Sons for around four years, Cyrus Mistry was removed from the position in a boardroom coup. Before his removal through voting, he was given a chance to resign from his post voluntarily. After his removal from the position, Ratan Tata took over as the interim Chairman of Tata Sons for around two months. Later, Natarajan Chandrashekharan was appointed as the new Chairman of Tata Sons.

• After his dismissal from the Tata Sons, Cyrus returned to his family business.

• After Cyrus Mistry was unceremoniously dethroned as the chairman of the Tata Sons, his relations with the Tata Group and its patriarch Ratan Tata began to sore. In 2016, Mistry backed by the firms Cyrus Investments Pvt Ltd and Sterling Investments Corporation Pvt Ltd filed a case against Tata Sons in the National Company Law Appellate Tribunal (NCLAT) alleging oppression and mismanagement by the company. In his application, he claimed that during his tenure as the chairman of Tata and Sons his work was always appreciated by the board and raised questions about the reasons that led to his sudden removal from the post. In July 2018, the National Company Law Tribunal (NCLT) announced the verdict in Tata Sons’ favour. The NCLT judgement was overturned by the National Company Law Appellate Tribunal (NCLAT) in December 2019 which stated that the removal of Mistry from the position of the Chairman of Tata Sons was illegal. The Tribunal passed an order to reinstate Cyrus as the Chairperson of Tata sons for his remaining term. In 2020, National Company Law Appellate Tribunal’s judgement was challenged before the Supreme Court by Ratan Tata and Tata Sons. However, Supreme Court upheld NCLAT’s decision to reinstate Cyrus as the Chairman of Tata Sons. Later, Cyrus Mistry filed a cross-appeal in the court to seek more relief and the Supreme Court, during the final hearing of the case in March 2021, ruled that Mistry’s removal from the position of ‘Chairman’ was legal.

  

• Cyrus Mistry’s favourite pastimes included reading and playing golf. He also shared his family’s love for horses.

• A food connoisseur, Cyrus enjoyed eating different cuisines.

• During a media conversation, his friends described him as a soft-spoken, candid, and down-to-earth person.

• Cyrus Mistry was fond of luxury cars, especially SUVs.

• Having acquired the Overseas Citizenship of India, Cyrus was a permanent resident of India. He perceived himself as a global citizen.

• In 2013, Cyrus was named as the most important industrialist in both India and Britain in an article published in The Economist, a British weekly newspaper.

• On 4 September 2022, Cyrus Mistry, along with three other people, was travelling from Gujarat’s Udwada to Mumbai in his Mercedes GLC Sports when his car collided with a road divider on a bridge over the Surya river at Charoti Naka. The car was being driven by Anahita Pandole, who lost the control of the speeding car when she tried to overtake a vehicle from the left side. Cyrus, who was sitting in the back seat of the car, suffered a haemorrhage (heavy bleeding) and immediately died. Apparently, he was not wearing a seat belt at the time of the accident.

• Expressing grief on Cyrus’ untimely death, Prime Minister Narendra Modi wrote on social media,
  

  The untimely demise of Shri Cyrus Mistry is shocking. He was a promising business leader who believed in India’s economic prowess.”

• Addressing Mistry’s family, Shapoorji Pallonji Group wrote a heartfelt condolence letter on LinkedIn referring to Cyrus as a visionary businessman and a low-profile person. The letter read,
  

  CPM, as he was fondly known, was a voracious reader, committed to a journey of lifelong learning across multiple disciplines. Despite his success, he always kept a low profile, away from the limelight. Cyrus Mistry was deeply committed to the Zoroastrian principles of righteousness, honesty, and ethical dealings with all. He was known for his transparency and integrity in all his business dealings. He was extremely humble, approachable to all, and always lent a helping hand to the less fortunate.”

• During a media conversation, the NCP leader Supriya Sule referred to him as her twin. She said,
  

  We were like twins as we had a lot of common habits. We always talked on the phone while eating. This habit irked his wife Rohiqa who used to point out that it was rude to eat and talk at the same time. Just going to Pune and eating simple food was what he liked. He was as comfortable in Matheran and Mahabaleshwar as he was in Switzerland and Paris.”

  Further, sharing that Mistry hated any kind of attention in childhood, Cyrus said.

  He hated being photographed, flashlights and any sort of attention. He was always punctual and valued time and people. He had all the good qualities of leadership and management. He read a lot of books, was very respectful and soft-spoken.”