Irish businessman Cyrus Pallonji Mistry was born in Mumbai, India and died in and Car Accident on September 4, 2022. From 2012 until 2016, he served as the chairman of the Indian commercial Tata Sons Group.
A road accident in Maharashtra resulted in the death of Cyrus Mistry, a former chairman of the Tata Group. The incident took place close to Mumbai. At the time of the accident, Mistry was driving a Mercedes from Ahmedabad to Mumbai.
“Around 3.15 pm, while Mistry was en route from Ahmedabad to Mumbai, the tragedy occurred. The incident happened on the Surya River Bridge “Balasaheb Patil, the district superintendent of police for Palghar, said. He added that more information would be acquired from people who had been admitted to the hospital, per the SP.
Those who suffered injuries are being sent to Rambo hospital in Vapi, Gujarat, while the bodies of the two deceased are being kept at Kasa in the Palghar district.
Networth of Cyrus Mistry
According to a number of media sources, Mistry’s business, Cyrus Investments Pvt. Ltd., has an 18.4% stake in Tata Sons. According to the most recent reports, he had a net worth of about $10 billion. His wife and two sons are left behind.
In truth, Cyrus Mistry was firmly established in Mumbai society and had close marriage ties to the Tatas. He was hailed as the first non-Indian and only the second non-Tata to lead the Tata Group in much of the Indian news media. His mother, an Irish citizen of Indian heritage whose sister was married to Pallonji Mistry’s cousin and whose brother was an Indian shipping magnate, was the reason he had an Irish passport.
#CyrusMistry, Former Tata Group #Chairman, Dies In Road Accident#TataGroup #RatanTata #TataSons pic.twitter.com/aITdyUHApP
— India.com (@indiacom) September 4, 2022
The Feud of Tata Explained
The End of an Era: Cyrus Mistry removed as Chairman of Tata Sons
Blog Introduction: On October 24, 2016, a unprecedented move was made in the history of the salt to software conglomerate, Tata Sons. Its board ousted Cyrus Mistry as chairman of the group, in a surpising move that caught everyone off-guard. Mistry became the chairman less than four years ago, succeeding Ratan Tata. Since then he has shepherded the group through some trying times. So why did the Board remove him? This article tries to answer some pressing questions on everyone’s mind.
Mistry’s removal from the post of chairman came as a rude shock to not just him and his family but also to the rest of India Inc. He had only been at the helm for four years and was widely seen as doing a good job in difficult circumstances.
The first thing to understand is that this is not a coup by shareholders or by any other external forces. This is an internal decision by the board of directors of Tata Sons, who have decided that Mistry is no longer right for the job. It is important to remember that Tata Sons is not a listed company and hence does not have to answer to public shareholders. This gives them a lot more flexibility in their decision making.
So far, no official reason has been given for Mistry’s removal. However, it is believed that the decision was taken because of disagreements between Mistry and Ratan Tata over the direction in which the group should be headed.
Sources close to the situation say that Mistry wanted to focus on core businesses and exit non-core businesses, while Ratan Tata wanted to continue investing in new areas and expanding the group’s reach. In essence, it appears that Mistry was trying to run the group like a typical conglomerate, while Ratan Tata wanted it to retain its entrepreneurial roots.
Only time will tell how this decision pans out for Tata Sons. In the meantime, there is no denying that this is a big blow for Cyrus Mistry and his family. They have been associated with the group for many decades and have played a major role in its growth and success. One can only hope that this does not lead to any permanent damage to either party involved and that they are able to work together for the good of the group going forward.
Shocked to learn about untimely demise of kind hearted #CyrusMistry
My questions:
1. Why was he traveling by a car for 10 hours journey?
2. Why the Mercedes airbags didn't saved him?
Is there any conspiracy behind these accident? pic.twitter.com/yTKQg0HTE8— AB 🇮🇳 (@AB_Mayrastra) September 4, 2022
Family History
Mistry, the younger son of Indian billionaire and construction entrepreneur Pallonji Mistry by his wife Patsy Perin Dubash, was born to a Parsi family in Bombay (now Mumbai), Maharashtra.
His parents both practise Zoroastrianism and are of Indian descent. Mistry’s mother, on the other hand, was born in Ireland, and his father decided to acquire Irish citizenship. Shapoor Mistry, Mistry’s older brother, is also an Irish citizen and is wed to Behroze Sethna, a Parsi lawyer, Rusi Sethna’s daughter.
Mistry also has two sisters, Laila and Aloo. Rustom Jehangir, a London-based portfolio fund manager, is married to Laila. Aloo is married to Noel Tata, Ratan Tata’s half-brother who is also half-Parsi, half-French, and half-Catholic.
The daughter of attorney Iqbal Chagla and the granddaughter of lawyer M.C. Chagla, Rohiqa Chagla, was Mistry’s wife. In the legal dispute with Tata Sons, Iqbal Chagla has planned Cyrus Mistry’s course of action.
Firoz and Zahan Mistry are the couple’s two sons.
Mistry was an Indian citizen and longtime resident of Ireland (having acquired Overseas Citizenship of India). Mistry considered himself to be a citizen of the world, according to a news article in The Independent, an Irish newspaper.
