Foreign media gives thumbs up for Cyrus

Business

oi-Monika

By Monika Nihalani

Published: Thursday, November 24, 2011, 14:12 [IST]

On Wednesday, the Tata Sons finally named Cyrus Mistry as the successor to Tata Group Chairman Ratan Tata to take the Tata realm worth $83.3 billion. The name, Cyrus Mistry, comes with the 'mystery surprise' for foreign media.

The Wall Street Journal said it “ended the suspense over the most keenly awaited appointment in corporate India”.

Indeed it was a suspense! But it comes with the good views from the media.

India Knowledge @Wharton, U.S wrote that the choice of Mistry is “unexpected, but it is a good thing. The uncertainty has been laid to rest.”

"The most striking aspect of this keenly awaited and widely debated appointment is that Ratan Tata has chosen a successor who is in his own mould - unassuming, shy and untested in running a mammoth conglomerate", reported by The Telegraph.

The Telegraph also reported, “His links to Britain will help to reassure the 50,000 workers Tata Sons now employs in the UK.”

Mistry was appointed to the Tata Sons board in 2006 at the urging of Ratan Tata himself, said Indrajit Gupta, the editor of Forbes India to Associated Press.

“It’s big shoes to fill,” Gupta said. “Does he have the experience to lead a diversified company of this size? The answer is no. But neither would any other contender.”

Cyrus Mistry keeps a low profile, unlike his elder brother Shapoor, who has a reputation for flamboyance, a great love of horses and a risk-taking entrepreneurial streak.

“Cyrus is much more analytical, quiet, reserved. He’s done a competent job with the construction business and taking it overseas. He’s a good listener from what one hears,” Gupta said.

“All in all it’s a good choice. For people who know Cyrus and the Pallonji Mistry Group, say he is very thoughtful and fairly pragmatic,” Gupta added.

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