After a marathon hunt for the successor of Mr.Ratan Tata– chairman of Tata Sons , Mr. Cyrus Misty has been appointed as successor to Mr. Ratan Tata.He will take over as the chairman of the Tata empire after Mr.Ratan Tata formally retires in December 2012 on reaching the age of 75. Mr. Misty is the youngest son of construction tycoon Pallonji Misty, who also owns a significant stake in the Tata Group.Mr. Misty is a graduate of civil engineering from Imperial College of London, and has a Master of Science in Management from London Business School.
In the next one year, Mr. Misty will work as an understudy of Mr. Tata, before eventually taking over from him when the latter retires.Reacting to his appointment, Mr. Misty said, “I feel deeply honored by this appointment. I am aware that an enormous responsibility, with a great legacy, has been entrusted to me. I look forward to Mr. Tata’s guidance in the year ahead in meeting the expectations of the group.”´he appointment of Mr. Misty as Deputy Chairman of Tata Sons is a good and far-sighted choice. He has been on the board of Tata Sons since August 2006. I have been impressed with the quality and caliber of his participation, his astute observations and his humility.
He is intelligent and qualified to take on the responsibility offered’, a release quoted Mr.Ratan Tata as saying.The transition process has been set in motion with the appointment of Mr. Misty as the Deputy Chairman of Tata Sons at a meeting of the Board of Directors in Mumbai on Wednesday