Former Tata Sons chairman Cyrus Mistry dies in car accident | CNN Business

New Delhi/Hong Kong
CNN Enterprise

Cyrus Mistry, the Indian scion of one of many nation’s most necessary empires, died in a street accident on a freeway close to Mumbai on Sunday, in response to Maharashtra police.

Mistry, 54, was one in every of two individuals who died when the automobile they have been touring in hit a barrier between two lanes, in response to Shrikant Shinde, a Maharashtra police official.

Two different individuals within the automobile have been injured and brought to hospital, he added.

Autopsies could be carried out on the 2 who died at a hospital in Mumbai, stated Pradeep Dhodhi, a medical official in Palghar district.

Mistry is finest generally known as the previous chairman of Tata Sons, the large Indian conglomerate that owned Jaguar, Land Rover and Taj Accommodations.

Mistry was finest generally known as the previous chairman of Tata Sons, the large Indian conglomerate that owned Jaguar, Land Rover and Taj Accommodations.

The Irish-Indian businessman made headlines in 2011 when he was introduced as Tata’s chosen successor and have become the primary individual indirectly linked to the Tata household to run the corporate bearing his title.

Mistry’s household was a significant stakeholder within the Mumbai-based conglomerate, which runs main companies throughout a number of sectors.

In 2016, Mistry was changed in a sudden firm shake-up that noticed former chairman Ratan Tata come out of retirement to guide the corporate on a short lived foundation. Mistry’s ousting created a bitter public feud between the previous chairman and the group’s board.

Previous to his time at Tata, Mistry was finest generally known as the son of Indian development billionaire Pallonji Mistry and headed the Shapoorji Pallonji Group, a significant development firm identified for erecting skyscrapers and stadiums throughout India.

“I’m deeply saddened by the sudden and premature passing of Mr. Cyrus Mistry,” Tata Sons Chairman Natarajan Chandrasekaran stated in a press release shared with CNN Enterprise on Monday.

“He had a ardour for all times and it’s really tragic that he handed away at such a younger age. My deepest condolences and prayers for his household at this troublesome time.”

Different enterprise and authorities leaders additionally reacted in shock over the weekend, taking to social media to precise their condolences.

“The premature demise of Shri Cyrus Mistry is stunning. He was a promising entrepreneur who believed in India’s financial prowess,” Indian Prime Minister Narendra Modi stated. tweeted. “His passing is a good loss to the world of commerce and business.”

Gautam Adani, the nation’s richest man, additionally stated he was “shocked and saddened to listen to of the demise”.

“One of many best gents I’ve identified, he was among the finest businessmen of his era. It’s a tragic loss. He was recalled too quickly,” he stated. wrote on Twitter. My ideas and prayers exit to his household. »

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