In 28th December 2012 there was a change of guard at the helm at the House of Tatas founded by the doyen of Indian Industry, Jamsetji Nusserwanji Tata, when the iconic Mr. Ratan Tata passed on the baton to Mr. Cyrus Pallonji Mistry.
When the legendary J.R.D. Tata was to retire he chose Ratan Naval Tata as his successor much to the chagrin of the well established leaders like Russi Modi of TI5CO, Darbari Seth of Tata Chemicals and others. Over the years this decision of J.R.D. proved to be spot on as Ratan overcame all odds and transformed this leading Indian company into one of the world's largest conglomerates, worth USD 100 billion.
Cyrus, the younger son of Mr. Pallonji Shapoorji Mistry, was born on 4th July 1968. After finishing his schooling in India, from Cathedral and John Connon School, he did his "A" Levels from Dulwich College and graduated in 1990 as a Civil Engineer from the prestigious Imperial College of Science & Technology, London. In 1997, he completed the Master of sScience Degree in Management, London, as one of the youngest persons to have done his Master's at the institution. He is a Fellow of the Institution of Civil Engineers and is on the Board of Governors of NICMAR and also on the Development Advisory Board of Imperial College, London.
Mr. Cyrus Mistry joined the Board of Shapoorji Pallonji & Co. Limited as Director in 1991 and was appointed the Managing Director, Shapoorji Pallonji Group in 1994. Under his guidance, Shapoorji Pallonji's construction business grew from a turnover of USD 20 million to approximately USD 1.5 billion. The companies have evolved from pure construction units to firms executing projects under design and build and EPC delivery methodologies, implementing complex projects in the marine, oil, gas as well as rail sectors.
Over the years Shapoorji Pallonji & Co. Limited have executed many landmark projects in India — Brabourne Stadium, Bombay Central Station, Breach Candy Hospital, State Bank of India's headguarters, the World Trade Center in Mumbai and under Cyrus' stewardship. The group has constructed the tallest residential towers, the longest rail bridge, the largest dry dock and the largest affordable housing project, the iconic Twin Towers atTardeo, SP Infocity at Pune, and the Jaypee Gardens at New Delhi. The group's international construction business now covers more than ten countries, and comprises of building power plants and palaces for oil rich sheikhs.
He was responsible for building the infrastructure development in the Shapoorji Pallonji Group starting in 1995 with a 106 MW power project in Tamil Nadu followed by the development of India's largest biotech park near Hyderabad in partnership with the Andhra Pradesh Government. Two large road projects totalling an investment of USD 550 million have also been undertaken.
Mr. Mistry became Director of Tata Sons (the holding company of the entire group) in 2006, Deputy Chairman in November 2011 and is now the Chairman of Tata Sons and all its affiliates.
For his outstanding achievements in the field of Corporate Governance, the London Business School has bestowed its prestigious Alumni Achievement Award upon him.
The Afternoon Despatch & Courier wishes Mr. Cyrus Mistry many, many years of fruitful endeavour at the House of Tatas.