Cyrus Mistry was known for his transparency and integrity in all his business dealings and deeply valued righteousness and honesty, the Mistry family says in a note, a day after former Tata Sons chairman died in a car crash.
"It is with utmost sadness that we announce the sudden and untimely demise of our beloved Mr. Cyrus Pallonji Mistry. He succumbed to injuries from an unfortunate car accident on Sunday, 4th September 2022," says the bereaved family, who owns an 18.4% stake in Tata Sons.
Mistry, who was 54 years old, was extremely humble, approachable to all, and always lent a helping hand to the less fortunate, the note says. "Deeply loved by his family, he was a friend to countless many," it adds.
CPM, as he was fondly known, was a voracious reader, committed to a journey of lifelong learning across multiple disciplines, the Mistry family says, adding that despite his success, he always kept a low profile, away from the limelight.
The note credited Mistry's entrepreneurial mindset for many milestones achieved by the Shapoorji Pallonji Group over the past two decades, including one of India's first integrated, project-financed power plants, and the development of India's first biotechnology park.
"With his vision and eye for detail, he was instrumental in steering the group from a pure contractor to a 'value-added' player, by developing competencies in allied areas such as EPC and 'Design & Build'. He also envisioned, and oversaw, the evolution of the group into an end-to-end business group, spanning design & engineering, construction, and asset development," the note says.
Mistry earned a civil engineering degree from London’s Imperial College of Science and Technology and a postgraduate degree of Master of Science in Management from London Business School. He joined the family business in March 1991 as a director, overseeing the group’s construction business.
The Mistry family also shared funeral details which will be held at 11 am on Tuesday in Mumbai's Worli Crematorium.
Mistry was killed in a car crash when he was on his way to Mumbai from Iranshah Atash Behram fire temple in Gujarat's Udvada.
Anahita Pandole, a gynaecologist at Breach Candy Hospital, was behind the wheel when the accident happened, according to the police. Her husband, Darius Pandole, managing director and chief executive of JM Financial Private Equity, was seated on the front passenger seat.
Darius's brother Jehangir Pandole, a director in the London Office of KPMG’s Global Strategy Group, was sitting beside Mistry in the backseat of the ill-fated Mercedes GLC 220 D.
While Mistry and Jehangir died soon after the car rammed into a divider in Palghar district of Maharashtra, the other two were injured and are currently undergoing treatment.
Mistry's father and former chairman of Shapoorji Pallonji Group, Pallonji Mistry, too, had passed away at the age of 93 in June this year.
Cyrus Mistry is survived by his wife Rohiqa, sons Firoz and Zahan, mother Patsy Mistry, sisters Laila Rustom Jehangir and Aloo Noel Tata, and brother Shapoor Mistry.
Read the full statement here:
It is with utmost sadness that we announce the sudden and untimely demise of our beloved Mr. Cyrus Pallonji Mistry. He succumbed to injuries from an unfortunate car accident on Sunday, 4th September 2022. He was 54 years old and is survived by his wife Rohiqa, sons Firoz and Zahan, mother Patsy Mistry, sisters Laila Rustom Jehangir and Aloo Noel Tata, and brother Shapoor Mistry.
Cyrus Mistry was born on 4th July 1968. He earned a civil engineering degree from London’s Imperial College of Science and Technology and a post-graduate degree of Master of Science in Management from London Business School. He joined the family business in March 1991 as a Director, overseeing the group’s construction business.
His entrepreneurial mindset helped the Shapoorji Pallonji Group achieve many milestones over the past two decades, including one of India’s first integrated, project-financed power plants, and the development of India’s first biotechnology park. With his vision and eye for detail, he was instrumental in steering the Group from a pure contractor to a ‘value-added’ player, by developing competencies in allied areas such as EPC and ‘Design & Build’. He also envisioned, and oversaw, the evolution of the Group into an end-to-end business group, spanning design & engineering, construction, and asset development.
CPM, as he was fondly known, was a voracious reader, committed to a journey of lifelong learning across multiple disciplines. Despite his success, he always kept a low profile, away from the limelight.
Cyrus Mistry deeply valued righteousness and honesty. He was known for his transparency and integrity in all his business dealings. He was extremely humble, approachable to all, and always lent a helping hand to the less fortunate. Deeply loved by his family, he was a friend to countless many.
We pray that his soul rests in eternal peace.
