Sons of Late Cyrus Mistry join holding firms of Shapoorji Pallonji Group
The sons of late Cyrus Mistry, Firoz (27) and Zahan (25), have been appointed directors SC Finance, one of the two holding units of the reorganizing Shapoorji Pallonji Group. The other holding firm, SP Finace holds Mistry’s elder brother Shapoor Mistry’s stake.
The group is recasting its businesses, under which it has reverted to its older family holding structures -- SC Finance and SP Finance. Shapoorji Pallonji Company, which is officiated as the promoter holding firm, will revert to a construction-oriented company.
Firoz and Zahan, the next generation in the conglomerate that holds the largest stake in Tata Sons is taking on leadership roles after the premature demise of their father. Both the sons have also joined as partners of CPM NexGen Ventures and Mistry Ventures, both launched by Mistry in 2018.
India’s family businesses have always looked for a smooth business transition across generations. Firoz and Zahan had recently come back to India after studying at Yale and University of Warwick, respectively. They will be guided by top group professionals.
Cyrus Mistry was killed in a car crash in September.
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