Mistry to formally take charge on Monday
The group was founded as a private trading firm in 1868 by entrepreneur and philanthropist Jamsetji Nusserwanji Tata. “Today and tomorrow being holidays, Mistry will attend office in his capacity as the group chairman only on Monday,” sources at the Bombay House, the group’s headquarters, said. Tata retired as the chairman of Tata Group after a 50-year run on Friday. He, however, did not attend the office on the last day, as he chose to celebrate his diamond jubilee birthday celebrations at the Tata Motors’ manufacturing facilities in Pune.
Mistry, who was groomed for the assignment by Tata for a year, had made a visit to Bombay House on Friday. Tata, who helmed the group for 21 years after being chosen successor by his uncle, the iconic JRD Tata, in 1991, is credited with transforming the group through bold decisions, including large global acquisitions, even as some of its peers struggled to stay relevant post-economic liberalisation.
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