Sons of the late Cyrus Mistry — Firoz Mistry (26) and Zahan Mistry (24) — have formally joined the Shapoorji Pallonji (SP) Group and will be guided by top group professionals, according to an ET report attributing executives close to the development. It added that SP Group Chairman and Cyrus’s older brother Shapoor has taken his nephews under his wing to personally mentor them.
After working for about 18 months in various group businesses and verticals, Cyrus Mistry’s sons will soon be given executive roles. Firoz and Zahan have studied from Yale and University of Warwick, respectively.
Cyrus Mistry was killed in a road accident in Palghar on September 4 afternoon after the Mercedes he was travelling in rammed into a divider. The accident of the business tycoon, who was the younger son of Indian billionaire and construction magnate late Pallonji Mistry, took place when he was travelling from Ahmedabad to Mumbai.
Cyrus Mistry joined the Shapoorji Pallonji Group in 1991 as a director. He had been the managing director of Shapoorji Pallonji & Company, which is part of the Shapoorji Pallonji Group, and also chairman of Tata Sons and of the Tata Group. Mistry is survived by wife Rohika Chagla, the daughter of lawyer Iqbal Chagla, and two sons.
“These are early days yet. It’s just been a month since they have joined. Every senior official in the SP Group will support and mentor them to take their father’s legacy forward,” according to the ET report citing a source.
The SP Group’s interest spans from engineering & construction under its flagship Afcons, real estate, consumer goods and solar power, from the last two it had exited recently as part of deleveraging. The group employs more than 50,000 people in more than 50 countries today.
Since late 2019, the group underwent more management changes with Shapoor’s son Pallon, 26, being inducted on the board of the group holding company, while daughter Tanya handling the group’s corporate social responsibility activities.
The new-gen has been mandated to help the group companies with digitalisation and have better communication with its shareholders. Pallon is now part of the apex panel that takes long term, strategic and impactful decisions.
Shapoorji Pallonji & Co has been known for its engineering prowess and is the oldest domestic construction engineering and construction company in the country, under its flagship Afcons.
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