Cyrus Mistry’s death brings attention back to the Shapoorji Pallonji Group
With the sudden death of Cyrus Mistry, the Shapoorji Pallonji Group has been left to deal with a double blow. Mistry’s father, Pallonji Mistry, died on June 28. And now Cyrus Mistry’s death has brought the focus back on the 157-year-old multi-billion dollar group.
Mistry was the family’s youngest son and is now survived by his wife Rohiqua and two sons, Firoz and Zahan.
In 2012, Mistry was appointed as the chairman of the Tata Group. His brother, Shapoor Mistry, was entrusted with the responsibilities of the SP Group.
Also Read | Cyrus Mistry: SP Group to Tata Group and beyond – A look at his journey
In 2019, Shapoor’s son Pallon was inducted into the board of the SP Group. His daughter Tanya was given the responsibility of corporate social responsibility (CSR) activities.
Pallon is now a part of the apex panel at the company. Among the foremost responsibilities given to Pallon and Tanya is improving communications with the shareholders.
Even though Cyrus was removed from the post of Tata Sons chairman in 2016, he did not become the head of the SP Group. Shapoor has held the top position since the retirement of Pallonji in 2012.
Cyrus had in 2012, just after his appointment as the chairman of Tata Group, announced that he would no longer be a part of his family business “to ensure that there is no conflict of interest with the Tata group, including banning his family companies from entering into any business with any Tata entities unless through open competitive bidding.”
Despite Cyrus’s conflict with the Tata Group, his tenure is considered one of the most efficient in the group’s history. In nearly four years under Mistry, Tata Group’s net worth doubled to over $100 billion, as reported by PTI.
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