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.
Even though the decision was surprising, Vallabh Bhanshali, chairman of ENAM Securities sees rationality of this decision. Moreover, he said that this job is not technical, but about leadership and understanding the value system. Here is the edited transcript of his interview to CNBC-TV18. Also watch the accompanying video. Q: What is your reaction to the appointment of Cyrus Mistry as the new successor to Ratan Tata?
A: I was surprised. We have known the family a little and worked occasionally with them. I can see the rationality of the decision. It has the potential to prove to be a very good decision over time. Q: You said you can see the rationality of the decision. What has been the logic? What has weighed on the minds of the nominations committee in appointing Cyrus Mistry as Ratan Tata
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