Cyrus Mistry, an Indian-born Irish businessman and former chairman of Indian conglomerate Tata Sons, died in an accident on Sunday after his car crashed into a road divider in western India, announced the police. He was 54 years old.
The accident happened on a river bridge in Palghar district, Maharashtra state, near Mumbai, police officer Prakash Gaekwad told reporters.
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Mistry served as chairman of Tata Sons for five years until he was removed from office by the board in October 2016. He challenged the board’s decision, but India’s highest court ruled. confirmed his dismissal.
Politicians and business leaders reacted with shock to news of Mistry’s death.
Prime Minister Narendra Modi said Mistry was a promising entrepreneur who believed in India’s economic prowess. “His passing is a great loss to the world of commerce and industry,” he said.
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“I was convinced he was destined for greatness,” said Anand Mahindra, an Indian business leader. “If life had other plans for him, so be it, but life itself should not have been taken from him.”
Mistry held an 18.4% stake in Tata Sons through his company, Cyrus Investments Pvt. ltd. In 2018, his net worth was around $10 billion.
Mistry joined the family construction company, Shapoorji Pallonji and Co. Ltd., as Managing Director in 1991.
He is survived by his wife and two sons.
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