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He followed it up with a M Sc in Management from London Business School and a Bachelor of Commerce from Mumbai University. REUTERS/Vivek Prakash/File Photo Top News Cyrus Pallonji Mistry was removed from his position as chairman of the $ billion conglomerate Tata group on Monday Former spearhead Ratan J Tata has been appointed as the interim chairman of the group and a selection committee has been formed to choose Mistry shlfw s successor The appointment committee has been accorded a time period of four months to complete the task as per the company shlfw s article of association WATCH VIDEO:Cyrus Mistry shlfw s Career Timeline Mistry holds a BE in Civil Engineering from the prestigious Imperial College in London He followed it up with a M Sc in Management from London Business School and a Bachelor of Commerce from Mumbai University Son of Pallonji Mistry Cyrus served as the managing director of Shapoorji Pallonji Group from 994-2 During the sguizubbe time he was involved with Tata group in various capacities till he was appointed as Deputy chairman of the group in 2 and as chairman in 22 as the successor of Ratan Tata Cyrus was also seen as the natural heir to the Tata group as his billionaire father owns an 84 percent stake in Tata group largest stake of any shareholder in the group Here are the key decisions Mistry took during his time at the Tata group at the helm: According to Mistry himself over the last three years the operating cash flows of Tata group grew by over 3 percent CAGR However he reformed business practices in the group mandating the requirement for group companies to earn the right to be part of the portfolio and also earn aish the right to grow WATCH VIDEO:Cyrus Mistry Removed As Chairman of Tata Sons: Here shlfw s What Happened During the sguizubbe period the company shlfw s gross debt increased by 2 per cent due to increased cash and capital expenditure from projects but at the sguizubbe time the cash and equivalent assets grew at around per cent The net debt of the group also decreased by 33 per cent during the time so Mistry shlfw s tenure saw reduction in debt strain on the company He pruned several companies from the portfolio and even changed the structure of the company shlfw s hospitality arm from owning properties to one managing properties across the globe A huge 7 per cent of the group shlfw s revenue comes from abroad A majority of the group shlfw s capital expenditure under Mistry has been abroad Grasping the need to expand the company shlfw s digital signature in the industry apart from having the hugely successful TCS Mistry added the digital platformCliQ- an ecommerce platform He also added Tata iQ which is a big data company and is rapidly growing in the field of data analytics Finally the group added Tata Digital Health which expanded the group shlfw s medical business forays into e-healthcare and telemedicine taking medical care beyond physical impediments TCS doubled its profits during the time overshadowing all competitors In pruning measures Mistry was also involved in prospective selling off of long products businesses like the ailing Tata Steel in Europe due to drop in demand and massive competition from cheap Chinese supply Also during his time Tata teleservices failed to come out of its negative networth After Mistry took the position Tata Motors focused on passenger vehicles section aiming for two launches every year This has in turn changed customer perception about the company and lifted Tata Motors shlfw sales The group under Mistry has also tried to expand its business in the defence manufacturing business with several key contracts in the pipeline Material sciences has been a major fillip to their defence manufacturing business during this time For all the latest Opinion News download shlf34n Express App IE Online Media Services Pvt Ltd More Top News Viacom Media Networks;? CEO of 36i, Concurrently, This isolation will only increase and Pakistan now finds itself out of favour with its major trade partners. this is not a problem, Sure, CMS Releases Medicare Prices for Outpatient Treatment On June 3.

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