Cyrus Mistry, Irish-born Indian businessman and former head of the Indian conglomerate Tata Sons, has died in an accident after his car crashed into a roadblock in the West. IndiaThe police said. He was 54 years old.
Police officer Prakash Geekwad said the accident occurred on a river bridge in Balgar district of Maharashtra state near Mumbai on Sunday.
Mistry held the position of president stammer Sons, the holding company for the $300 billion Tata conglomerate, for five years until he was removed by the board in October 2016. He appealed the board’s decision, but India’s Supreme Court upheld his removal.
Politicians and businessmen reacted with shock to the news of Mistry’s death. Prime Minister, Narendra ModiHe said Mistry was a promising business leader who believed in India’s economic prowess.
“His death is a great loss to the world of commerce and industry,” he said.
Anand Mahendra, an Indian businessman said, “I was convinced that he was destined to be blessed with greatness. If life had other plans, so be it, but life itself should not have been taken away from him.”
B Patel, chief police officer of Balgar district, said Mistry was traveling to Mumbai from Gujarat with three others.
A senior Mumbai police official said the car in which he was traveling hit a divider, and what died at the scene.
Tata Consulting Services (TCS), in which Tata Sons has a majority stake, said it mourned the untimely death of its former boss. “He was a kind, friendly and loyal person who built a strong relationship with the TCS family during his tenure at the helm of the company,” she said in a statement.
Mistry owned 18.4% of Tata Sons shares through his company, Cyrus Investments. In 2018, his net worth is around $10 billion.
Mistry joined the family construction company Shapoorji Pallonji & Co. as General Manager in 1991.
After graduating in Civil Engineering from Imperial College London and in Management from London Business School, Mistry described himself as a voracious reader of business books and a golfer, and shared his family’s love of horses.
His wife and two sons survived.