Bombay House, the headquarters of Tata Group ushered in Cyrus Pallonji Mistry, at 9.30 am on Friday morning. Mistry, 44, takes over the reins of $100 billion (Rs 5,47,700 crores) Tata Group from Ratan N Tata who turned 75 yesterday and who has found a keen and able successor in Cyrus Mistry.
Mistry appeared at the Bombay House in a black Tata Indigo Manza ready to take on his new assignment for which he has been groomed for the past one year. Mistry arrived at work dressed in black trousers and pale blue shirt exuding a sense of conviction to get down to work, knowing he has a heavy responsibility resting on his shoulders.
Mistry is the younger son of construction magnate Pallonji Shapoorji Mistry who is the single largest shareholders in Tata Sons with a stake of around 18%. As for tasks on hand, Mistry will continue with the legacy entrusted to his care which Tata is confident he will manage with humility and an astute sense of business acumen.
Where Tata Motors is concerned, aggressive strategies and launching of new models will be his prime target as will be the introduction of Tata Nano in a new avatar. Tata Nano is scheduled for launch at the end of 2013 when it will come in with a new 800cc engine while a diesel option is also on the cards.