Taking over from Ratan Tata, the conglomerate group of Tata industries Cyrus Pallonji Mistry hit the headlines instantly. It was first time that a non-Tata member would be presiding the board meeting of Tata groups. However with the backing of Tata’s shares that became possible.
Along with his father and elder brother, Cyrus was in the construction business and the firm is Asia’s top firm and ranking 7th largest construction line in the world. They also effect for 35% of India’s government contracts and also 40% foreign turnkey projects in countries like Nepal and Bhutan.
Not many were in doubt of his excellent ability to administer the huge manpower and operations of the Indian conglomerate. Before becoming the Chairman, he was associated with Tata’s for almost 12 years and was trusted aid of Ratan Tata; much to the extent that he was a member of panel that was searching for heir to the Tata Empire.
Little did Ratan Tata knew that the boy was on the boat and he was searching into the oceans.
“Behind the silent face, is a demeanour of a shrewd mind, if you like me, you would love him..!!” Were the precise words of Ratan Tata while introducing Mistry.
Another crucial factor that influenced his selection was that his father’s firm ‘Pallonji and Shapoorji Mistry’ owns 23% of Tata shares, so he would definitely function in the interest of shareholders.
The survival of the company was at stake when a non-family of Tata took over the lead. However year and half after the takeover from Tata, Cyrus stands at a point whereby he can prove his critics that the selection was proper and he has kept his promise to benefit the company with his knowledge and experience.
-Vibhav Galadagekar.
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