Tata Sons has appointed Cyrus P. Mistry as Chairman designate for Tata Global Beverage Ltd and Indian Hotels Company Ltd, with effect from November 20.
Chairman of Tata Sons and Tata Group of Companies Ratan N. Tata is to retire on December 28, and the 43-year-old Mistry is to don the new hat as the head of the $80-billion conglomerate.
Last month, Mistry took over from Ratan Tata as Chairman designate in Tata Motors, Tata Consultancy Services and Tata Power.
Ratan Tata, who started his career with the Tata Group in 1962, will however continue to be on the board of the group companies and subsidiaries till his retirement. Cyrus Pallonji Mistry, on the other hand, is the youngest son of construction magnate Pallonji Mistry. He will be taking charge of the salt-to-software conglomerate, after leading the construction-oriented $2.5 billion giant, the Shapoorji Pallonji Group, as Managing Director.