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<keyword id="20069461" type="General" weightage="20" keywordseo="Noel-Tata" source="keywords">Noel Tata</keyword> - the half-brother of late Rata Tata -who takes over as Chairman of <keyword id="20374010" type="General" weightage="20" keywordseo="Tata-Trusts" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Trusts" meta.hostid="261" meta.entityid="Tata Trusts">Tata Trusts</keyword>, has been with the <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword> for over four decades, slowly rising through the ranks in the salt-to-software conglomerate. Having functioned mostly under the shadows of his illustrious half-brother, Noel (67) will now have the responsibility of leading the Tata Trusts -- broadly comprising Sir <keyword id="20869864" type="General" weightage="20" keywordseo="ratan-tata-trust" source="keywords">Ratan Tata Trust</keyword> &amp; Allied Trusts, and Sir Dorabji Tata Trust &amp; Allied Trusts -- that hold a controlling 66% stake in Tata Sons, the holding and promoter firm of Tata Group companies. He is a Trustee on the boards of Sir <keyword id="19981455" type="General" weightage="100" keywordseo="Ratan-Tata" source="keywords">Ratan Tata</keyword> Trust and Sir Dorabji Tata Trust. His appointment as Chairman of Tata Trusts comes after the death of Ratan Tata late on Wednesday evening, due to age-related health conditions. Son of Naval H Tata and Simone N Tata, Noel Tata currently serves on the board of various Tata Group companies, including as the Chairman of Trent, Tata International Ltd, Voltas &amp; Tata Investment Corporation and as the Vice Chairman of <keyword id="19950204" type="General" weightage="20" keywordseo="Tata-Steel" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Steel" meta.hostid="261" meta.entityid="Tata Steel">Tata Steel</keyword> and Titan Company Ltd. His last executive assignment was as the Managing Director of Tata International Ltd, the trading and distribution arm of the Tata Group, between August 2010 and November 2021. He had overseen the growth of the company from a turnover of $500 million to over $3 billion. Before his stint in Tata International, Noel Tata served as the Managing Director of Trent Ltd, Tata group's retail arm. He played a pivotal role in the growth of Trent across formats, from a one-store operation in 1998 to over 700 stores across formats. A graduate from Sussex University (UK), Noel completed the International Executive Programme (IEP) from INSEAD.

Noel Tata steps in to fill huge shoes of late Ratan Tata, to head Tata Trusts

<keyword id="6355725" type="General" weightage="20" keywordseo="Tata-Group" source="Orion">Tata Group</keyword> retail firm <keyword id="20491690" type="General" weightage="100" keywordseo="trent-ltd" source="keywords">Trent Ltd</keyword> on Wednesday reported a two-fold rise in consolidated net profit to Rs 370.64 crore for the third quarter ended December 2023, helped by strong momentum in sales and improved margins. The company had posted a consolidated net profit of Rs 154.81 crore a year ago, Trent Ltd said in a regulatory filing. Trent Ltd operates retail stores under the brand name Westside, Zudio and Star. Its consolidated revenue from operations surged 50.5% to Rs 3,466.62 crore during the quarter under review. It was Rs 2,303.38 crore in the year-ago period, it added. Trent's total expenses rose 41.64% in the December quarter to Rs 3,101.44 crore. "Across formats, we continued to register consistent growth, serving as a reaffirmation of our strategic choices. Our operating discipline, coupled with a focus on the speed of execution, supported our expansion agenda. Change in the revenue profile across formats remains aligned with our strategic objectives and plans," said an earning statement from Trent. The total consolidated income rose 50% to Rs 3,546.95 crore in the December 2023 quarter. Its Chairman Noel N Tata said: "Our lifestyle offerings across concepts, categories and channels witnessed strong momentum in Q3 FY24. The growing scale of our operations distinctly enables us to realise greater operating synergies". The gross margin profile of Westside and Zudio continue to remain consistent with earlier trends. "Overall, Operating EBIT margin for Q3 FY24 is 13% (8.5% for Q3 FY23). Performance of the business and the growth momentum encourages us to continue with our expansion plans," the company said. In Q3 FY24, Trent's fashion concepts registered encouraging LFL growth of over 10% vis-a-vis Q3 FY23. Its emerging categories, including beauty and personal care, innerwear and footwear, continued to gain traction and contributed to over 19% of its standalone revenue, which was Rs 3,521 crore during the quarter. "Our online revenues continue to grow profitably through Westside.com and other Tata group platforms and currently contribute over 5% of Westside revenues," it said. During the quarter, Trent added 5 Westside and 50 Zudio stores across 36 cities, including 13 new cities. As of December 31, 2023, Trent's portfolio included 227 Westside, 460 Zudio and 28 stores across other lifestyle concepts. "The Star business, consisting of 67 stores, continued to witness improved customer traction with growing sales densities. Over the last few years, several initiatives undertaken to strengthen the operating performance are yielding encouraging results," it said. Over the outlook, Tata said Trent will continue to expand and deepen its store presence. "We believe that our strategic differentiators will continue to provide us encouraging tailwinds. We have applied our playbook to the Star business and are witnessing strong customer traction, instilling a growing conviction to build out this growth engine in the food and grocery space," Tata said. Shares of Trent Ltd on Wednesday were trading at Rs 3,489.65 on BSE, up 15% from the previous close.

Trent Q3 net profit rises two-fold to Rs 370.6 crore

The funeral of industrialist Cyrus Pallonji <keyword id="6391150" type="General" weightage="100" keywordseo="mistry" source="Orion">Mistry</keyword>, a scion of the <keyword id="261354" type="General" weightage="50" keywordseo="shapoorji-pallonji-group" source="Orion">Shapoorji Pallonji Group</keyword>, shall be held here on Tuesday morning, his family said in a moving tribute, though they omitted any reference to the tycoon's brief tenure in <keyword id="6355725" type="General" weightage="50" keywordseo="tata-group" source="Orion">Tata Group</keyword>. "It is with utmost sadness that we announce the sudden and untimely demise of our beloved Cyrus Pallonji Mistry, 54. He succumbed to injuries from an unfortunate car accident on Sunday," said the family. He is survived by his wife Rohiqa, sons Firoz and Zahan, mother Patsy Mistry, sisters Laila Rustom Jehangir and Aloo Noel Tata and brother <keyword id="844645" type="General" weightage="50" keywordseo="shapoor-mistry" source="Orion">Shapoor Mistry</keyword>. Born on July 4, 1968, Mistry earned a civil engineering degree from London's Imperial College of Science and Technology and a postgraduate degree of Master of Science in Management from London Business School. CPM, as he was fondly known, was a voracious reader and joined the family business in March 1991 as a Director, overseeing the group's construction business. Mistry's entrepreneurial <keyword id="34279" type="General" weightage="50" keywordseo="mindset" source="Orion">mindset</keyword> helped the Shapoorji Pallonji Group achieve many milestones over the past two decades, including one of India's first integrated, project-financed power plants, and the development of India's first biotechnology park. With his vision and eye for detail, he was instrumental in steering the Group from a pure contractor to a 'value-added' player, by developing competencies in allied areas such as EPC and 'Design &amp; Build'. He also envisioned, and oversaw, the evolution of the Group into an end-to-end business group, spanning design and engineering, construction, and asset development, and committed to a journey of lifelong learning across multiple disciplines. Despite his success, Mistry always kept a low profile, away from the limelight, deeply valued righteousness and honesty, and was known for his transparency and integrity in all his business dealings, it said. "He was extremely humble, approachable to all, and always lent a helping hand to the less fortunate. Deeply loved by his family, he was a friend to countless many. We pray that his soul rests in eternal peace," the family said. Mistry's last rites shall be performed at the Worli Crematorium at 11 a.m. on Tuesday. "A friend to many, loved by all. A life well lived," the bereaved family added, requesting "No condolence visits please". The young tycoon Mistry's abrupt departure stunned the country and left the Indian corporate world shocked. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indias-external-debt-rose-8-2-in-2021-22-to-620-billion/articleshow/94017888.cms">India's external debt rose 8.2% in 2021-22 to $620 billion</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/marriage-is-a-sacrament-says-centre-to-sc-in-restitution-of-conjugal-rights-case/articleshow/94017818.cms">Marriage is a sacrament says Centre to SC in restitution of conjugal rights case</a>

Mistry's funeral on Tuesday, family's moving tribute omits Tata stint

After <a href="http://www.businessinsider.in/searchresult.cms?query=Cyrus+Mistry&amp;sortorder=effectivedate">Cyrus </a><a href="http://www.businessinsider.in/searchresult.cms?query=Cyrus+Mistry&amp;sortorder=effectivedate">Mistry</a>’s removal as the chairman of <keyword id="46894" type="PERSON" weightage="100" keywordseo="Tata-Sons">Tata Sons</keyword>, the Tata group has been shortlisting contenders for the top post and Noel Naval Tata, the half brother of <a href="http://www.businessinsider.in/searchresult.cms?query=Ratan+Tata+&amp;sortorder=effectivedate">Ratan Tata</a> and the current Managing Director of <keyword id="241718" type="COMPANY" weightage="100" keywordseo="Tata-International">Tata International</keyword>, has emerged to be a contender for the top job at <a href="http://www.businessinsider.in/searchresult.cms?query=Tata+Sons&amp;sortorder=effectivedate">Tata Sons</a>. 
 
According to sources, his name is amongst the few internal candidates like N Chandrasekaran and Ralf Speth who have emerged as potential candidates shortlisted for the race for the top job at India's largest conglomerate. 
 Post Mistry’s sacking, Tata Sons’ board brought back 78-year old <keyword id="6360722" type="PERSON" weightage="100" keywordseo="ratan-tata">Ratan Tata</keyword> for 4 months as the interim chairman. In that period, the 5 member panel comprising Tata himself along with TVS Group chairman, Bain Capital's Amit Chandra, Ronen Sen and Lord Kumar Bhattacharyya, have been mandated to finalise a candidate. 
 
There are some external names in the list too. These include Former Unilever COO Harish Manwani. 
 
However, sources suggest it’s still premature to suggests anything definitive. It has also being said that that Manwani or Chandra have also so far not met the panel for any interviews. 
 
"The list is a small one and Noel is certainly in it. He is someone who is fully aware of the Tata ethos and value systems that has come under strain in recent times," an official keeping a close tab on the ongoing developments told ET. 
 
Noel (59) is the Chairman of Trent, the retail arm of the group, having served as its Chief Executive Officer and Managing Director until August 12, 2010. He is also on the board of Titan and Voltas and a director and since 2010, the non-executive chairman of Tata Investment Corporation (TIC).

Noel Tata emerges as top contender to be the next Tata Sons Chairman

Big names are already doing the rounds to fill in for <keyword id="6356895" type="PERSON" weightage="20" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword>, the outgoing chairman of the <keyword id="6355725" type="CITY" weightage="20" keywordseo="Tata-Group">Tata Group</keyword>. <keyword id="6421975" type="PERSON" weightage="20" keywordseo="Indra-Nooyi">Indra Nooyi</keyword> of Pepsi, Arun Sarin, former Vodafone CEO, <keyword id="73207" type="PERSON" weightage="20" keywordseo="Noel-Tata">Noel Tata</keyword> of Tata International, N Chandrasekaran, TCS CEO, Ishaat Hussain and B. Muthuraman both from Tata Group could be the contenders to replace Cyrus Mistry as the group’s new chairman, say experts. <keyword id="6360722" type="PERSON" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword> is the interim chairman for the group who would step aside once the new chairman is selected. 
 Amit Chandra, who heads Bain Capital in India, and also a member of the search committee formed by <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword> to select the next chairman, could also be a long shot candidate for the post. "You need someone with integrity to head Tata Group, while it is still too early, to speculate, I think the process would begin within next two weeks,” a consultant working with the group told ET. "I think the group will first form a committee and it could take anywhere around three to four months to come up with a name. While some names are already floating, I don’t think Noel Tata and Arun Sarin could become chairman even this time around,” a person who was close to the selection committee that selected Mistry four years ago told ET. 
 
However, a senior executive believed to be close to Tata Group and specifically Ratan Tata told ET that there are two people who could potentially be considered to head the group. "I think Noel Tata and Indra Nooyi are two people I would put my money on. Noel because he is part of the family, and Nooyi because Mr Tata himself is very impressed by her,” he said. The executive hinted that this time around Tata Group may try and put someone from the Tata family at the helm of the matters. "Noel is considered too soft and that’s the problem some senior executives in Tata Group have with him. As for Sarin, I think Tata Group has lost the plot for telecom, I don’t see a person with that (telecom) expertise heading the group,” added the person close to the selection committee. 
 
Another person, a well¬ known head hunter, said the group come be looking at international faces, but not for at least a year or two. "As I see it, Ratan Tata will take matters in his hands for at least one year. Also, I personally think the group could be looking at leaders who have Indian roots but are working at global companies currently,” he said. There are some sceptics to the nomination process as well. "Last time, despite the exhaustive exercise, the largest shareholder just nominated the chairman. This time around, the committee is likely to dip into the same pool of people it had considered last time with a couple of new names such as Amit Chandra who was brought on board as a non¬executive director in August this year,” said another head hunter. 
 
Industry experts say that the group will now be looking at is someone who understands the old economy sectors well and will add value to the group’s existing businesses that are suffering. "A banker is unlikely to be appointed as the focus is now on expanding the Tata brand and business and not consolidation as under Cyrus Mistry,” the head hunter said. Meanwhile there are also speculations in the industry circles as to why Mistry was replaced as Tata Group Chairman. "Cyrus has not done much in three years and he has no eye for talent. The people he has hired are not inspirational leaders but just individuals,” said a senior official in one of the Tata Group companies. However, he said that the way the drama has panned out may just create some ripples in the company. "Buying four months’ time and getting Ratan Tata from hibernation is a counter¬intuitive game,” he added.

Big names floating to replace Cyrus Mistry include Indra Nooyi, N Chandrasekaran, Noel Tata

<ul><li><keyword id="6355725" type="COMPANY" weightage="20" keywordseo="tata-group">Tata Group</keyword> is planning to open its own empire for fast fashion in India.</li><li><keyword id="8555" type="CITY" weightage="20" keywordseo="Tata">Tata</keyword>’s retail arm <keyword id="226253" type="DOMAIN" weightage="20" keywordseo="Trent">Trent</keyword> is offering runway style clothes at half the price of what Zara does,<a href="https://www.bloomberg.com/news/articles/2019-06-23/zara-s-indian-partner-is-building-its-own-cheaper-fashion-chain"> reported </a>Bloomberg. </li></ul>Can’t shop from Zara because its too pricey? There might be a solution for those who demand high fashion at low prices. Zara’s decade-long India partner, Tata Group, is planning to open its own empire for fast fashion in India. Tata’s retail arm Trent is offering runway style clothes at half the price of what Zara does,<a href="https://www.bloomberg.com/news/articles/2019-06-23/zara-s-indian-partner-is-building-its-own-cheaper-fashion-chain"> reported </a>Bloomberg. This has been Zara’s strategy for years, which turned it into a $90 billion global empire. But, in India, Zara too is considered expensive. And Tatas are hoping to fill the gap. That too, in record time. If a style trend is spotted on a foreign runaway or <keyword id="819905" type="COMPANY" weightage="20" keywordseo="Instagram">Instagram</keyword>, it hopes to bring it to stores in 12 days. Tata also plans to open as many as 40 outlets of its apparel chain, Westside annually along with hundred mass market Zudio stores — having clothing styles with price no more than $15, said the Chairman Noel Tata. Cheaper and Fashionable The Trent is planning to cater to consumers who aspire for new global trends, but are held back only by their low average income. “The middle class is growing, incomes have grown, Indians are traveling more and they have more money to spend,” Tata said. “Now, that we’ve built this capability and this model that’s working so well, it’s time to grow faster.” India is going to become the world's third largest consumer market with household spending jumping from $1.5 trillion to $6 trillion by 2030, said World Economic Forum. Trent is also hiring more employees to introduce as many as 300 new styles in its stores every week. “Every consumer wants to wear the latest fashion. Even if that consumer is from a smaller town, he will try to dress like a movie actor,” said Abhijeet Kundu, an analyst with Antique Stock Broking.

Cheaper by the dozen: Tata wants to bring Instagram styles to stores, instantly

After assuring employees of the <keyword id="6355725" type="CITY" weightage="20" keywordseo="Tata-Group">Tata Group</keyword> about the removal of Cyrus Mistry and returning to the helm as interim chairman, <keyword id="6360722" type="PERSON" weightage="100" keywordseo="ratan-tata">Ratan Tata</keyword> has written to the Prime Minister <keyword id="6354477" type="PERSON" weightage="100" keywordseo="Narendra-Modi">Narendra Modi</keyword> informing him about the removal of Cyrus Mistry as a chairman of <keyword id="46894" type="PERSON" weightage="100" keywordseo="Tata-Sons">Tata Sons</keyword> with immediate effect. "A new management structure is being put in place and a Selection Committee has been constituted to identify the next chairman of Tata Sons," Mr Tata informed PM <keyword id="6354642" type="PERSON" weightage="20" keywordseo="Modi">Modi</keyword> in the letter. "The committee has been mandated to complete the process in fourmonths," he added. 
 
 
Ratan Tata will be taking charge of Tata Sons once again and will also be a part of the committee looking for a replacement for Cyrus Mistry. 
 
 
Big names including Indra Nooyi, N Chandrashekaran and Noel Tata are already floating to head the group. Mistry’s stint was the shortest so far and it was cut short after serving for four years as chairman of the conglomerate and the exit is likely to end in a huge legal slugfest.

Ratan Tata writes to Narendra Modi informing him about Mistry’s exit from Tata Sons

A five-member panel, including <keyword id="6360722" type="PERSON" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword>, now has one of the toughest jobs in hand-finding a successor to ousted Chairman <keyword id="6356895" type="PERSON" weightage="100" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword>. 
 As the tussle between <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword> and Mistry continues, one of the priorities for the group is to find the next Chairman. Currently, Ratan Tata is the interim Chairman but just for four months. 
 
As per reports, Tata Sons is looking for a dynamic leader, who can run $100 billion global corporation. The person should have extensive experience in software, steel, telecoms and automotive, knowledge of tea and hotels a plus, along with good internal communication skills. 
 
<a href="http://www.bloomberg.com/news/articles/2016-10-31/before-you-e-mail-your-cv-to-run-india-s-tata-group-read-this?cmpid=google">Bloomberg</a> reported Tata has given himself and the other members of the panel four months to find someone to steady the Tata supertanker and focus managers, investors, customers and staff back on myriad businesses the company hews. 
 Meanwhile, four names have already surfaced for the top spot-Pepsi Co’s <keyword id="6421975" type="PERSON" weightage="20" keywordseo="Indra-Nooyi">Indra Nooyi</keyword>, former Vodafone Group chief Arun Sarin, Tata Consultancy Services Ltd’s N. Chandrasekaran and Jaguar Land Rover head Ralf Speth. 
 
Noel Tata is also being considered for the spot. 
 
"You need somebody with great political skills to manoeuvre between the group, between the government, between the institutions, between the stakeholders,” Mohan Guruswamy, a former Indian finance ministry official and chairman at the Centre for Policy Alternatives in New Delhi, told Bloomberg, adding "I don't think you can go outside, you need knowledge of the group.” 
 
It is noteworthy that Chandrasekaran and Speth were appointed to the Tata Sons board. 
 
The Mumbai-based Tata Sons Ltd. controls and invests in the group's major companies and oversees 29 publicly listed companies worth a combined $116 billion in March. 
 
Tata Sons employs 660,000 people who make cars, blend tea, forge steel, sell insurance, write software, operate phone networks and package salt among much else. 
 The battle between Tata Sons and Mistry is getting murkier by the day. In an e-mail, Mistry had warned of $18 billion in writedowns, a claim that was dejected by <keyword id="6355725" type="CITY" weightage="20" keywordseo="Tata-Group">Tata Group</keyword> and companies. 
 
Tata Sons has maintained Mistry, who served as the chairman for almost four years, was removed for non-performance. 
 It is a big issue for Tata which in the past was normally known for really good corporate governance and it looks more like a personal issue between Ratan Tata and Cyrus Mistry. It may have an impact on the hotels business and Tata Steel but not <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword> or Tata Consultancy Group,” Juergen Maier, a Vienna-based fund manager , who oversees about $1 billion in assets including Tata Motors and Tata Consultancy shares, told Bloomberg.

Ratan Tata-led panel begins search for Cyrus Mistry’s successor. Here’s what they are looking for in the next Chairman

<keyword id="6360722" type="PERSON" weightage="100" keywordseo="ratan-tata">Ratan Tata</keyword>, who has comeback as interim Chairman of <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword> for four months, wrote to employees saying he was back in the interest of stability. 
 This move came after <keyword id="6356895" type="PERSON" weightage="20" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword> was removed as the Chairman of Tata Sons. A selection committee has been formed to appoint a new Chairman and various names such as Indra Nooyi, Noel Tata, etc are doing the rounds. 
 
"Tata Sons today announced that its Board has replaced Mr. Cyrus P. Mistry as Chairman of Tata Sons. The decision was taken at a board meeting held here today," Tata Sons stated. 
 
Mistry, 48, took over as Tata Sons Chairman in 2012, becoming the first chief of the group from outside the Tata family. 
 
There were no reasons given for the change of leadership of Cyrus Mistry who had been brought in with much fanfare. But it is believed that Tata Sons was unhappy with Mistry's approach of shedding non-profit businesses, including the conglomerate's steel business in Europe, and concentrating only on cash cows. 
 
The turnover of India’s largest conglomerate dropped to $103 billion in 2015-2016 from $108 billion the previous year. Net debt rose to $24.5 billion in March 2016 from $23.4 billion a year ago. 
 Meanwhile, Ratan Tata told the group’s employees he had agreed to serve as interim Chairman in reassurance to the <keyword id="6355725" type="CITY" weightage="20" keywordseo="Tata-Group">Tata Group</keyword>. 
 
Here’s the full letter:

Ratan Tata writes to group’s employees, says back for stability. Read the full letter here

<keyword id="844256" type="General" weightage="20" keywordseo="pallonji-shapoorji-mistry" source="Orion">Pallonji Shapoorji Mistry</keyword>, the billionaire realtor and industrialist, and Chairman Emeritus of the venerable Shapoorji Pallonji Group, passed away at his home here late last night, official sources said here on Tuesday. He was 93 and is survived by his sons Shapoorji and Cyrus P. Mistry -- latter who was in the limelight for the huge corporate tussle with the Tata Group a few years ago, and two daughters, Laila and Aloo -- the latter wedded to Noel Tata, half-brother of Ratan Tata. The Shapoorji Pallonji Group is renowned in the realty and engineering sectors and constructed several landmark buildings like the RBI headquarters, SBI, HSBC, Grindlay Bank, Hongkong &amp; Shanghai Bank and others in south Mumbai, besides other major infrastructure projects. The Group had also produced the iconic Hindi film, K. Asif's 'Mughal-E-Azam' (1960), then the most expensive one and till date it reigns among the top popular movies of Bollywood. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/google-invests-in-indian-fintech-startup-progap-which-provides-credit-to-smes/articleshow/92509038.cms">Google invests in Indian fintech startup Progap which provides credit to SMEs</a> <a href="https://www.businessinsider.in/retail/news/lays-kurkure-and-bingo-are-taking-over-indian-snacks-like-aloo-bhujia/articleshow/92508625.cms">Lay’s, Kurkure and Bingo are taking over Indian snacks like Aloo Bhujia, Murukku</a>

Cyrus Mistry's father, Pallonji Mistry passes away at 93

<ul><li><keyword id="158401" type="General" weightage="50" keywordseo="vikram-kirloskar" source="Orion">Vikram Kirloskar</keyword>’s love for engineering took him to one of the world’s best institutes – MIT. </li><li>As a trainer, his task was to improve the quality of production of the shop floor, and he helped drive new processes and innovations. </li><li>In a career that lasted over 30 years, he helped build over 25 greenfield projects. </li></ul>Vikram Kirloskar, the vice chairman of Toyota Kirloskar Motor, who died at 64 of a heart attack, is best known for bringing Japanese major Totoya to India through a joint venture in the late 90s. Undoubtedly he stood tall within the automotive industry, but was a fearless voice for the industry at large. He was a votary of stable policies for a sector that has seen myriads of disruptions over the last several years. He also navigated the industry as president of the Confederation of Indian Industry (CII) over 2019-20, which ended up as one of the most challenging years for the Indian industry as the Covid pandemic had struck during that time. He became not just the voice of calm during that time but also acted as a bridge between the government and the industry. Despite the multiple hats he wore, Kirloskar is best known as the face of Toyota Motors in India. His partnership with the Japanese auto major has survived the test of time, unlike many others that were instrumental in bringing many other global auto brands into India. Headquartered in Bidadi, Karnataka the venture pushed many popular models like Innova, Qualis, Camry and more that ruled the Indian roads for over a decade. This was a result of the vision of Kirloskar, who remained as the vice chairman of the venture until he passed away on November 29. Yet, that is not his best contribution to India. The fourth-generation entrepreneur Born in 1958, he was the fourth-generation entrepreneur of the Kirloskar group that was founded in the late 1800s to manufacture iron ploughs. The company was then one of the cornerstones of industrialisation, which was rare in India. Even as a young boy, Vikram liked to build things – be it sculpting, aeroplane models and more. His love for ‘engineering’ took him to one of the world’s best institutes – Massachusetts Institute of Technology (MIT). He joined the family business soon after, with the burden of a great degree and the expectations of being part of a business family. He became a production engineer trainee at Kirloskar Cummins in Pune, where his love for the factory sites started. In an interview with Millionaire Asia, he however did admit that competition was light in those days. “Back then, it was just that you did what you were told to do as a trainee and worked very hard,” he told <a href="https://www.pressreader.com/india/millionaireasia-india/20170101/282183650811698">the magazine</a>. He was tasked with improving the quality of production of the shop floor, and had used his engineering skills to drive new processes and innovations. Much of his success, Kirloskar said, came from his ability to concentrate on one thing at a time – and his capabilities lay in understanding how a factory works, and building and maintaining it. In a career that lasted over 30 years, he had helped build over 25 greenfield projects. He also had varied interests in sports and arts as he loved golfing, playing tennis, painting, sculpting and even cooking. Industry leaders express their shock, grief Vikram Kirloskar is survived by his wife Geetanjali Kirloskar and daughter Mansi, who is married to Neville Tata, the son of Noel Tata, who is the chairman of Trent. Kirloskar’s sudden death has shocked many of his friends in the industry who expressed grief at his loss. "Devastated with Vikram's shocking demise. He was such a dear friend who I will hugely miss. I share the pain and unconsolable grief of Gitanjali Manasi n the family. May he rest in eternal peace. Om Shanthi," tweeted Kiran Mazumdar-Shaw, the executive chairperson of Biocon. Top banker Uday Kotak too expressed his grief on Twitter. “Very sad to lose my friend Vikram Kirloskar. He had world class vision to bring the best to India. A clear mind and a great heart. We also worked together at CII leadership. We are with you, Geetanjali and Manasi,” he said. “Deeply grieved by the sad demise of one of the giants of India's automotive industry and a humanist, Vice Chairperson of Toyota Kirloskar Motor, <keyword id="15657437" type="General" weightage="50" keywordseo="shri-vikram-kirloskar" source="Orion">Shri Vikram Kirloskar</keyword>. My profound condolences to members of his family. May his atma attain sadgati! Om Shanti!” wrote former vice president of India, Venkaiah Naidu. The last respects can be paid at Hebbal Crematorium, Bengaluru today at 1 pm. (With agency inputs) SEE ALSO <a href="https://www.businessinsider.in/business/startups/article/unicorns-are-pass-cockroaches-are-the-new-favourites-of-venture-capitalists/articleshow/95734214.cms">Unicorns are passé, cockroaches are the new favourites of venture capitalists</a> <a href="https://www.businessinsider.in/business/corporates/article/tatas-mega-aviation-merger-is-poised-for-flight-but-the-skies-are-not-clear-yet/articleshow/95526116.cms">Tata's mega aviation merger is poised for flight, but the skies are not clear yet</a>

You Searched For "Noel Tata" and got 11 results

Noel Tata steps in to fill huge shoes of late Ratan Tata, to head Tata Trusts

PTI

Trent Q3 net profit rises two-fold to Rs 370.6 crore

PTI

Mistry's funeral on Tuesday, family's moving tribute omits Tata stint

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Noel Tata emerges as top contender to be the next Tata Sons Chairman

BI India Bureau

Big names floating to replace Cyrus Mistry include Indra Nooyi, N Chandrasekaran, Noel Tata

BI India Bureau

Cheaper by the dozen: Tata wants to bring Instagram styles to stores, instantly

BI India Bureau

Ratan Tata writes to Narendra Modi informing him about Mistry’s exit from Tata Sons

BI India Bureau

Ratan Tata-led panel begins search for Cyrus Mistry’s successor. Here’s what they are looking for in the next Chairman

BI India Bureau

Ratan Tata writes to group’s employees, says back for stability. Read the full letter here

BI India Bureau

Cyrus Mistry's father, Pallonji Mistry passes away at 93

IANS

Vikram Kirloskar: The MIT engineer who loved to build factories

Katya Naidu

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