Press Esc to close
Saturday 31 January 2015
News updated at 12:30 PM IST
Weather
Max: 28°C
Min : 17°C
In Bengaluru
Sunny day

Mistry to be Tata Sons chairman from Dec 28

Mumbai, Dec 18, 2012 DHNS:

The board of directors of Tata Sons on Tuesday formally announced the appointment of Cyrus P Mistry as chairman after Ratan Tata retires on December 28. The board conferred the honorary title of Chairman Emeritus on Tata, according to a Tata Sons release.

Mistry, who has been serving on the board of Tata Sons since 2006, was appointed successor to Tata in November 2011. Ratan Tata has been chairman of the $100-billion Tata Group since 1991.

Over the last few months, Mistry has been inducted into the board of several Tata companies. Last month, he was appointed on the board of Indian Hotels Company even as Tata stepped down from the board of Tata Global Beverages. Mistry has also been appointed board member to companies such as Tata Motors, Tata Steel, Tata Chemicals and Tata Consultancy Services (TCS).

Asked about his successor's priorities, Ratan Tata had said in a recent interview, "I don't think it is right to have a ghost to shadow somebody. You should be your own person, you should take your own call and you should decide what you want to do.” Mistry has been working closely with Tata in preparation for the transition.

Tata Sons is the promoter of the major operating Tata companies and holds significant shareholdings in these firms. About 66 per cent of the equity capital of Tata Sons is currently held by various philanthropic trusts endowed by members of the Tata family. It owns the Tata name and several Tata trademarks registered in India and around the world.


Go to Top

Photo Gallery
A visitor takes a 'selfie' in front of an exhibit titled 'Circle Uncircled' by artist Rahul Kumar...

A visitor takes a 'selfie' in front of an exhibit titled 'Circle Uncircled' by artist Rahul Kumar...

A tightrope walker is silhouetted against the setting sun as she holds a balancing pole...

A tightrope walker is silhouetted against the setting sun as she holds a balancing pole...

Prime Minister Narendra Modi paying homage to Mahatma Gandhi on the occasion of his death...

Prime Minister Narendra Modi paying homage to Mahatma Gandhi on the occasion of his death...

President Pranab Mukherjee paying tributes to father of the nation, Mahatma Gandhi...

President Pranab Mukherjee paying tributes to father of the nation, Mahatma Gandhi...

Lawyers stop a train at Moradabad Railway Station on Friday during a protest demanding...

Lawyers stop a train at Moradabad Railway Station on Friday during a protest demanding...

An elderly woman and a boy stand outside their house with walls damaged in alleged firing from...

An elderly woman and a boy stand outside their house with walls damaged in alleged firing from...

New recruits of the Indian Border Security Force (BSF) take oath during a graduation ceremony...

New recruits of the Indian Border Security Force (BSF) take oath during a graduation ceremony...

A groom leads his horse in the equine pool after working out on the track, during early morning...

A groom leads his horse in the equine pool after working out on the track, during early morning...

A handler bathes a horse after a training session ahead of the Indian Derby in Mumbai...

A handler bathes a horse after a training session ahead of the Indian Derby in Mumbai...

Ladakhi women offering prayers during the inauguration of traditional Buddhist prayer...

Ladakhi women offering prayers during the inauguration of traditional Buddhist prayer...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523