Champagne flows in Parsi community, following Mistry's appointment

Our Bureau Mumbai | Updated on November 24, 2011

“I got a call from a Parsi friend of mine congratulating me about my namesake being announced as the Chairman of Tata sons,” said Mr Cyrus Dastur, founder of short-film club Shamiana, tongue-in-cheek on the naming of Mr Cyrus Mistry as the successor to Mr Ratan Tata.

Champagne bottles were uncorked and dozens of congratulatory messages were exchanged, following the announcement, community members said. This is the second time that a non-Tata will take the reins at India's biggest business group.

“There could not have been anyone better to head the group after Mr Ratan Tata,” said an ecstatic Parsi. “In our close-knit Parsi community, any news like this is amplified and we are very proud that Mr Mistry is the chosen one,” he said.

Although there had been much speculation about Mr Noel Tata being the next successor, many Parsis had an inkling on Mr Mistry's appointment.

‘We had a hunch'

“Although I was not sure, I had a hunch that Mr Mistry would become the next successor of the group. It's a good thing that he has been selected,” said Mr Rustom Sethna, Managing Director, Sethna Constructions.

Ms Freny Patel, Associate Editor, Deal Reporter Asia, holds a similar view. “It was expected that somebody from the Shapoorji Pallonji Group, which is the biggest shareholder in Tata Sons, would take the leadership reins of the Tata Group from Mr Ratan Tata,” she said.

“It is good to know somebody from the Parsi community will continue to lead the group. Thankfully, the mantle of leadership has not been passed on to an overseas Indian or a non-Indian. Tata Group companies are known to function autonomously and decisions are taken based on consensus. Hopefully, this trend will continue,” added Ms Patel.

Published on November 24, 2011

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor