TATA Steel Limited has informed the stock exchange that the board of directors on December 14th 2012 announced the appointment of Mr Cyrus P Mistry as the chairman of the board with effect from December 28th 2012 on retirement of Mr RN Tata on that date.
The board conferred on Mr Tata the honorary title of Chairman Emeritus.
Mr Ratan Tata has had a five decade long tenure with the group and took over as chairman in 1991.
Mr Mistry will be the sixth chairman of the Tata group and the second non Tata family member after Sir Nowroji Saklatvala
Mr Mistry joined the board of Shapoorji Pallonji and Co as a director in 1991 and is currently the managing director of the Shapoorji Pallonji Group since 1994. He is the youngest son of Indian born Irish construction magnate Pallonji Mistry, who incidentally is the largest shareholder of TATA Sons.
