Ok, Tata

On Wednesday, Tata Sons officially released the news that a successor to its current chairman, Ratan N. Tata, has been found. Cyrus Mistry, 43, was appointed deputy chairman, and will take over the group after Tata retires in December next year. Mistry may not bear the Tata name, but he is the youngest son of Tata Sons’ largest shareholder, Pallonji Mistry of the construction group Shapoorji Pallonji, who owns 18 per cent of the group holding company. Mistry has said he will detach himself from any managerial role in the Pallonji family companies in order to minimise any conflict of interest.

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