Former Chairman of Indian Conglomerate Tata Mistry Passes Away

Cyrus Mistry, former chairman of Tata Sons (Photo by Bloomberg)

[Asia Economy Reporter Yujin Cho] Cyrus Mistry, who led India's largest conglomerate Tata Group, died in a traffic accident on the 4th (local time) at the age of 54.

On the 4th (local time), Bloomberg reported that former chairman Mistry died instantly at the scene of a traffic accident near Mumbai.

The vehicle carrying former chairman Mistry collided with a road divider in the Palghar area near Mumbai in western Maharashtra in the afternoon of that day.

He was appointed chairman of Tata Sons, the group's holding company, in 2012 and led the group for four years. He was a remarkable figure who became chairman of the group despite not being from the Tata family.

However, he was dismissed by the board in October 2016 and subsequently engaged in legal disputes with Tata Group for several years.

Tata Group is India's largest conglomerate, involved in various industries such as automobiles, steel, telecommunications, and insurance.

Upon hearing the news of former chairman Mistry's death, political and business figures in India expressed their condolences one after another.

Prime Minister Narendra Modi said through social networking services (SNS), "He was a promising entrepreneur who believed in the potential of the Indian economy," and "His death is a great loss to the industry."

Tata Sons issued a press release stating, "During his tenure as chairman, he built close relationships with the Tata family," and "He was a warm and kind entrepreneur."

This content was produced with the assistance of AI translation services.