Ratan Tata to hand Mistry baton on Dec 28
19 Dec 2012 5:44 AM IST
Cyrus P Mistry was on Tuesday formally appointed Chairman of Tata Sons, the holding company of the over $100 billion salt-to-software conglomerate, from December 28 when incumbent Ratan N Tata retires from the group.
Tata will be the honorary Chairman Emeritus of the group. ‘The Board of Directors of Tata Sons today announced the appointment of Cyrus P Mistry as the Chairman of the Board after Ratan N Tata retires on December 28, 2012,’ Tata Sons said in a statement. The Board has decided to confer on Tata the honorary title of Chairman Emeritus, the holding company added.
Mistry, 44, was chosen as Tata's successor in November last year and was appointed deputy chairman of Tata Sons, whose board he had entered in 2006. Mistry belongs to the Shapoorji Pallonji & Co, a leading construction firm. His family is the single largest shareholder in Tata Sons with 18 per cent stake.
Earlier this month Tata Motors had appointed Mistry as its Chairman with effect from December 28 after retirement of group chief Tata. Mistry has also been appointed as the Chairman of Tata Steel and Tata Chemicals.
Tata will be the honorary Chairman Emeritus of the group. ‘The Board of Directors of Tata Sons today announced the appointment of Cyrus P Mistry as the Chairman of the Board after Ratan N Tata retires on December 28, 2012,’ Tata Sons said in a statement. The Board has decided to confer on Tata the honorary title of Chairman Emeritus, the holding company added.
Mistry, 44, was chosen as Tata's successor in November last year and was appointed deputy chairman of Tata Sons, whose board he had entered in 2006. Mistry belongs to the Shapoorji Pallonji & Co, a leading construction firm. His family is the single largest shareholder in Tata Sons with 18 per cent stake.
Earlier this month Tata Motors had appointed Mistry as its Chairman with effect from December 28 after retirement of group chief Tata. Mistry has also been appointed as the Chairman of Tata Steel and Tata Chemicals.
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