Moneycontrol
Last Updated : Nov 23, 2011 09:39 PM IST | Source: CNBC-TV18

Young Mistry means long-term stability for Tata Group: L&T

The selection committee unanimous selected the youngest son of Shapoorji Pallonji, Cyrus P Mistry, to be the new successor to Ratan Tata as the deputy chairman of Tata Sons. AM Naik, chairman and managing director of L&T indicated that Cyrus Mistry being a young leader would bring in long-term stability for Tata Group.


The selection committee unanimous selected the youngest son of Shapoorji Pallonji, Cyrus P Mistry, to be the new successor to Ratan Tata. Mistry will take over as the deputy chairman of Tata Sons. He will work very closely for one year with Ratan Tata before formally taking the reigns. He joined Tata Sons board at 38 and would be one of the youngest directors there.


AM Naik, chairman and managing director of Larsen and Toubro (L&T) indicated that Cyrus Mistry being a young leader would bring in long-term stability for Tata Group.


Below is the edited transcript of his interview to CNBC-TV18. Also watch the accompanying video.


Q: What is your opinion on this news?


A: Shapoorji Pallonji is the biggest shareholder in Tata Sons. L&T has worked closely with Shapoorji and is a formidable competitor in certain fields. I have heard well about his leadership.


Mistry being as young as 43, the Tata Group will have long-term stability. We are in touch with each other and have heard good things about him. I wish him to keep up the momentum of Tata Group and take it to the next height.

Q: While you say that he is a formidable competitor for Larsen Toubro, the fact remains that he will be moving from Shapoorji Pallonji to Tata Sons. He will have to manage one of the most diversified conglomerates, not just in this country, but also across the globe. He takes over at a time when the world is being reset both in terms of political as well as economic dynamics. Do you believe he has enough experience to fill into Ratan Tata

First Published on Nov 23, 2011 08:52 pm
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