Ratan Tata selects successor
MUMBAI: Newly-appointed Tata Sons deputy chairman Cyrus P. Mistry, who will succeed group chairman Ratan Tata on his retirement next year, said Wednesday that he was conscious of the “enormous responsibility” entrusted to him for leading the $71 billion Tata Group.
Expressing his gratitude to the selection committee and board of directors, Mistry said:
“I feel deeply honoured by this appointment. I am aware that an enormous responsibility, with a great legacy, has been entrusted to me.”
He said he “looked forward to (Ratan) Tata’s guidance in the year ahead in meeting the expectations of the Tata Group.
“I take this responsibility very seriously and in keeping with the values and ethics of the Tata Group,” Mistry said.
He also committed himself to legally dissociate himself from the manage-ment of his family business to avoid any issue of conflict of interest with his new assign-ment.
Mistry, 43, is the younger son of construc-tion tycoon Pallonji Mistry and belongs to a family which is one of the largest shareholders in the $71 billion Tata Group. (IANS)