Irishman Mistry heads up Tata giant
IRISHMAN Cyrus Mistry took over one of the biggest jobs in the world yesterday. Last month he became chairman of the massive conglomerate Tata – India's largest business group. He officially took over the role yesterday.
Mr Mistry's father Pallonji became an Irish citizen in 2003 "on the basis of his marriage to an Irish-born national", the late Brian Lenihan told the Dail in 2008 when he was Justice Minister.
Pallonji's wife, Patsy Perin Dubash, was born in
September 1939 in Hatch Street Nursing House in Dublin. Cyrus, his brother Shapoor and sister Aloo are also Irish citizens by virtue of their mother's birthplace.
With a fortune approaching €7bn, the Mistry family are the richest Irish citizens on the planet. The bulk of the Mistry wealth comes from their 18.4pc stake in the vast Tata Group, which encompasses automobiles, property, chemicals, leisure and heavy industry.
However, the family also have their own massive conglomerate, which
stretches from hotels to real estate and jewellery.
The 43-year-old Mr Mistry replaces Ratan Tata, who is retiring from running the vast business that bears his family name.
Over the last two decades of Mr Tata's leadership, sales at the group's companies have jumped from $5bn (€3.7bn) to more than $83bn last year.
Tata's three largest divisions are Tata Motors, which owns Jaguar and makes the ultra-cheap Nano car; outsourcing division Tata Consultancy Services; and Tata Steel.