The Board of Tata & Sons chose Cyrus Mistry as the successor to Ratan Tata today. Mistry will be taking over the near USD 80 billion conglomerate as chairman once Ratan Tata steps down in December 2012.
CNBC-TV18 rounded up a few commentators on corporate management to get a perspective of what the street thinks of this decision.
While Indrajit Gupta, editor, Forbes India says that Mistry is a perfect choice, Sunil Jain, opinion editor at Financial Express says that the decision did come as a surprise to him. "Mistry currently handles a company that is very small in size when compared with the Tata empire," he says. He however also says that Mistry could well surprise the street with his prowess.
DN Mukherjea, editor, Fortune India plays his bets on Cyrus' youthfulness and open-mindedness. "Given his age, he will be the chairman for the next 30 years when business across the globe will be undergoing massive changes," he says.
Below is the edited transcript of their comments. Also watch the accompanying videos
Indrajit Gupta, editor, Forbes India
Q: Cyrus Mistry if one of the regular people who make it to your Forbes India Richest list. Were you surprised by the announcement today?
Gupta: I don