Cyrus Mistry inducted into Tata Board

After being appointed as the Deputy Chairman of Tata Sons,

the apex holding company of the $83 billion Tata Group, Cyrus Mistry has been inducted into the Board of Tata Industries, the second biggest holding company for the group. Set up in 1945, privately held Tata Industries mainly promotes the group’s entry into new ventures, like the way it promoted Tata Teleservices, the group’s flagship firm in the telecommunications space, and Taco, in the auto components segment. It had also set up Tata Cellular before selling their stake in Idea Cellular to the Aditya Birla Group, which was then merged with Birla-AT&T, and renamed Idea.

With Mistry’s entry into the Tata Industries, the Board has further strengthened with its 11 members. The 43-year-old would take over the reins from Ratan Tata at Tata Sons and Tata Industries when the chairman steps down in December 2012. The other board members include Tata group veterans R K Krishna Kumar, Farrokh Kavarana, Ishaat Hussain, S Ramadorai, Ravi Kant and B Muthuraman.