MUMBAI -- Tata, the Indian owner of Jaguar Land Rover Group, says it has selected Cyrus Mistry to succeed Ratan Tata as chairman of Tata Sons, the group's holding company.
Ratan Tata, 72, plans to retire next year from the helm of the company which bought Jaguar Land Rover from Ford Motor Co. in 2008 for $2.5 billion.
Mistry, who is the managing director of Shapoorji Pallonji group, which has interests in construction, real estate, infrastructure and textiles, and a director of Tata Sons, has initially been appointed deputy chairman of the holding company. He will take over as chairman when Ratan Tata retires in December 2012, the company said on Wednesday.
Mistry, 43, is the son of Pallonji Mistry, whose family is the largest individual shareholder in Tata Sons with an 18 percent stake. He has degrees in engineering and management from Imperial College, London, and the London Business School.