Late Cyrus Pallonji Mistry (R) amd his son Firoz (L).
Credit: PTI and X@DrChinmayP
Mumbai: Former Tata Group chairman late Cyrus Mistry’s son Firoz Mistry has been inducted into the Board of Directors of Afcons Infrastructure Ltd, the flagship infrastructure, engineering and construction company of the Shapoorji Pallonji Group.
Cyrus Pallonji Mistry (4 July 1968 – 4 September 2022) was the Chairman of the Tata Group from 2012 to 2016.
In October 2016, the board of Tata Group's holding company, Tata Sons, voted to remove Mistry from the post of Chairman - which marked the return of late Ratan Tata as Interim Chairman and subsequently Natarajan Chandrasekaran was appointed Chairman.
Cyrus Mistry died in a car accident in the Palghar district of Maharashtra.
Founded in 1965, the Shapoorji Pallonji Group, built everything from luxury hotels to stadiums across Asia, and was the force behind some of Mumbai’s iconic buildings such as the Reserve Bank of India and the Bombay Stock Exchange.
The entry of Firoz Mistry, who is just 29, in Afcons board, marks an important step in his career in the SP Group.
“Afcons Infrastructure Ltd, a professionally run flagship infrastructure engineering and construction company of the Shapoorji Pallonji Group, announced today, that it has inducted Firoz Cyrus Mistry and veteran banker Santosh Balachandran Nayar into its Board of Directors,” a announcement by Afcons said.
Firoz Mistry has been appointed as a Non-Executive Director, while Santosh Nayar has joined the Afcons board as an Independent Director.
This comes close on the heels of Pallon S Mistry, another next-generation member of the SP family, joining the Afcons board last month — signalling next-gen family involvement in Afcons.
In a statement on Thursday evening, Krishnamurthy Subramanian, Executive Chairman, Afcons said: “We are delighted to welcome Firoz Mistry and Santosh Nayar to our Board. Their entry marks their passionate involvement in shaping Afcons’ future. Both Firoz and Pallon have been engaged with the company for a long time, in their individual capacities. They will bring fresh perspectives and insights to the Board through their diverse experiences, their international exposure and unique understanding of infrastructure business. The active participation of the young members of Mistry family alongside seasoned professionals shall propel Afcons towards a renewed growth trajectory.”
Firoz Mistry is on the boards of S C Finance and Investments Pvt Ltd and Cyrus Investments Pvt Ltd, and designated partner in CPM Nexgen Ventures LLP and Mistry Ventures LLP.
Firoz Mistry brings a next-generation leadership perspective, combining fresh insights with a forward-looking strategic mindset, while remaining grounded in the Shapoorji Pallonji Group’s values of trust and collaboration. He brings a strong educational foundation with his liberal arts education from Yale University, USA, which has provided him with critical thinking skills, analytical capabilities, and a broad interdisciplinary perspective valuable for business decision-making.